Amendments to the Tamil Nadu Electricity Restructuring and Transfer Scheme, 2024.

No. 277] CHENNAI, WEDNESDAY, AUGUST 28, 2024

Aavani 12, Kurothi, Thiruvalluvar Aandu-2055

Part II—Section 1

Notifications or Orders of specific character or of particular interest to the

public issued by Secretariat Departments.

NOTIFICATIONS BY GOVERNMENT

ENERGY DEPARTMENT

AMENDMENTS TO THE TAMIL NADU ELECTRICITY RESTRUCTURING AND TRANSFER SCHEME, 2024.

[G.O. Ms. No. 84, Energy [B2], 28th August 2024, ஆவணி 12, குரோதி, திருவள்ளுவர் ஆண்டு-2055.] No. II(1)/EGY/19(c)/2024.

In exercise of the powers conferred by sub-sections (4), (5) and (6) of Section 131 and Section 133 of the Electricity Act, 2003 (Central Act 36 of 2003), the Governor of Tamil Nadu hereby issues the following amendments to the Tamil Nadu Electricity Restructuring and Transfer Scheme, 2024:-

Amendments.

In the said Scheme,-

(1) in clause 1,-

(i) for the marginal heading "Short title, extent and commencement", the marginal heading "Short title and extent" shall be substituted;

(ii) sub-clause (c) shall be omitted;

(2) in clause 2,-

(i) in sub-clause (b), after the expression "Companies Act, 2013 (Central Act 18 of 2013)", the expression "and for the purpose of this scheme, it shall be 01.04.2023" shall be added at the end;

(ii) in sub-clause (u), for the expression "TANTRASNCO", the expression "TANTRANSCO" shall be substituted;

(3) sub-clause (3) of clause 4 shall be omitted;

"13. Accounting Treatment in the books of Transferor-TANGEDCO:- With effect from the Appointed Date, TANGEDCO shall account for the transfer and vesting of the Undertakings to TNPGCL and TNGECL in its book of accounts, as follows:-

(i) TANGEDCO shall reduce the book values of assets and liabilities of the undertakings being transferred to TNPGCL and TNGECL as at the close of business on the day immediately preceding the Appointed Date in its books of accounts;

(ii) TANGEDCO shall make an adjustment equal to the book values of the undertakings being transferred to TNPGCL and TNGECL as per item (i) above; and

(iii) All accounting transactions related to the undertakings and account rendering units retained with the transferor, i.e. TANGEDCO from the appointed date, shall be recorded in the books of accounts of TANGEDCO.

14. Accounting Treatment in the books of Transferees – TNPGCL and TNGECL:- With effect from the Appointed Date, the Transferees shall account for the transfer and vesting of their respective Undertakings in its books of accounts in accordance with this Scheme, as follows:-

(i) The Transferees shall record their respective Assets and Liabilities of the Undertakings transferred to them in pursuant to this Scheme at the respective book values appearing in the books of accounts of TANGEDCO.

(ii) The Transferees shall credit their share capital account with the aggregate face value of the Shares issued by it to the shareholders of TANGEDCO i.e., TNEB Limited. The difference between items (i) and (ii) above shall be recorded within "Other Equity" of the Transferees.

(iii) All accounting transactions related to the Undertakings and account rendering units transferred to the transferees, from the appointed date, shall be recorded in the books of accounts of the respective transferee, i.e. TNPGCL or TNGECL";

(5) in Schedule D, under the heading "List of Company Wise Accounts rendering Units/Circle Offices",- (i) Under the sub-heading "2.TNGECL", in the tabular column, after the entry "2602" in column (1) and the corresponding entry "WIND ENERGY DC/UDUMALPET" in column (2) thereof, the following entries shall respectively be added, namely:-

"2701 DRIP MADURAI"; and

(ii) Under the sub-heading "3.TANGEDCO", in the tabular column, the entry "2701" in column (1) and the corresponding entry "DRIP/MADURAI" in column (2) thereof shall be omitted.

BEELA VENKATESAN, Principal Secretary to Government.