On June 13, the regulator AP Electricity Regulatory Commission (APERC) in its orders dismissed the petition of AP Transco and four distribution entities saying that petition was barred by time. Despite this, the distribution entities went ahead and adjusted Rs 62.69 crore from the energy bills of June to be paid to Lanco Kondapalli in addition to Rs 46.25 crore they had earlier adjusted from the energy bill of December 2005.
Further, they also served fresh notices on Lanco Kondapalli seeking the balance Rs 28.07 crore at the earliest.
In a statement on Monday, Lanco Infratech said the power distribution entities have misinterpreted the fresh order of APERC and adjusted Rs 62.69 crore afresh. "Aggrieved by this act of discoms, LKPL is taking appropriate legal recourse for recovery of the above adjustments made by AP Transco and is making all efforts to recover the above dues," said J Suresh Kumar, chief financial officer of Lanco Infratech.
Further, Lanco also challenged the act of AP Transco in seeking liquidated damages and withholding Rs 48.06 crore, terming it as breach of terms of PPA and also beyond the period of limitation prescribed under the law.
While stating that AP Transco was technically entitled for liquidated damages, the power regulator, however, dismissed the petition of distribution entities on liquidated damages saying that their petition was barred by time.
When contacted, a senior power ministry official, who did not want to be identified, said the distribution entities have made fresh adjustment of Rs 62.69 crore from the energy bill of June to be paid to Lanco following the advice of the state advocate general.
Source- My digitalfac