Creation of Telangana Power Finance Corporation Limited
Creation of
Telangana Power Finance Corporation Limited for Telangana State
in accordance with provisions of AP Reorganization Act, 2014- Guidelines
issued.
ENERGY (CC)
DEPARTMENT
GO Ms No.28 Dated:30-05-2014
In pursuance of the section 53 of the AP
Reorganisation Act 2014, a separate Telangana Power Finance Corporation Limited
has to be created for Telangana
State and existing APPFCL
will continue for residuary AP State. Accordingly, Functions, Assets &
Liabilities, Posts and Staff are to be transferred to the newly created
Telangana Power Finance Corporation Limited.
In order to implement the provisions of the said Act, the following
guidelines are issued:
1. Effective Date for Transfer of Functions, Assets, Liabilities,
Posts and Staff:
Effective date shall be the date on which date TGPFCL
comes into existence.
2. Transfer of functions to TGPFCL: From the effective date all
the functions presently being carried out by APPFCL in Telangana State
shall stand transferred to TGPFCL.
3.
Distribution of outstanding “APPFCL
Bonds” for Rs. 5894.60 crores (Assets &
Liabilities) between APPFCL and TGPFCL as per allocation of funds by
APPCC, based on the power consumption by APDISCOMs:
‘APPFCL Bonds’ for an amount of Rs. 5894.60 crores
will be outstanding as on 02-06-2014. Chairman Andhra Pradesh Power
Coordination Committee (APPCC) has informed vide Lr. No. Dy. CCA. (APPCC) / SAO
(B&R)/ D. No.899/2012 dated. 12-10-2012 that the raised funds received from
APPFCL, have been allocated among APDISCOMs in the following ratio:
APNPDCL
|
APCPDCL
|
APSPDCL
|
APEPDCL
|
TOTAL
|
18.99%
|
49.12%
|
22.01%
|
9.88%
|
100%
|
As informed by Chairman, APPCC, 1745% share of
power is transferred from CPDCL to SPDCL due to transfer of Ananthapur and Kurnool from CPDCL to
SPDCL. Accordingly, the allocation ratio
is also revised as follows:
APNPDCL
|
APCPDCL
|
APSPDCL
|
APEPDCL
|
TOTAL
|
18.99%
|
40.55%
|
30.58%
|
9.88%
|
100%
|
Thus, the ratio for allocation of outstanding of “APPFCL
Bonds” between Telangana and Andhra Pradesh will be as follows.
PARTICULARS
|
TELANGANA
|
ANDHRA PRADESH
|
TOTAL
|
Ratio
|
59.54%
|
40.46%
|
100%
|
Bonds (Rs.
In crores)
|
3509.60
|
2385.00
|
5894.60
|
p.t.o.
The allocations of “APPFCL Bonds” as above have
been approved in 134th Board of Directors meeting held on 21st
April 2014.
Details are enclosed in Annexure-I.
4. Authorised
and Equity Share Capital:
a.
Authorized
capital of APPFCL is for Rs. 3000.00 crores (equity share of Rs. 100 each).
Ø The Authorised Capital (equity), shall be divided
between APPFCL and TGPFCL based on the population ratio i.e. 58:42, for Rs.
1740 crores and Rs.1260 crores respectively, as per AP Reorganisation Act –
2014.
Ø Issued, Subscribed & Paid up capital for Rs.
29,00,20,700, shall be divided between APPFCL and TGPFCL based on the
population ratio i.e. 58:42, for Rs. 16,82,12,006 and Rs. 12,18,08,694
respectively, as per AP Reorganisation Act – 2014.
Ø ‘Net Owned funds’ of Rs. 2.00 crores, shall be
divided between APPFCL for Rs.1.16 crores (58%) and TGPFCL for Rs. 0.84 crores
(42%) in the population ratio and balance net owned funds shall be obtained
from respective states.
5.
Distribution of other Assets and Bank balances
between APPFCL and TGPFCL.
Details of No-Lien Bank accounts, balance as on
31-03-2014:
Sl. No.
|
Number of No -Lien Bank Accounts
|
Unclaimed amount
|
Remarks
|
1
|
14
|
65,38,246/-
|
This amount pertains to 14 series which are
already redeemed. Out of which an amount of Rs. 24,09,173/-has been
transferred to IEPF on 16-05-2014, as it is unclaimed for more than 7 years.
Thereby 2 No-Lien Bank Accounts viz., 1/2000 & 1/2003 will be closed.
The balance 12 series of Bank Accounts with an
amount of Rs. 41,29,073/-, it is proposed to maintain by APPFCL (State of
Andhra Pradesh) till claimed by respective investors or transferred to IEPF
if unclaimed for more than 7 years from the due date. There will be no
liability as amount is available in bank accounts.
|
Contd….3
2
|
7
|
18,81,552/-
|
The 7 Bank Accounts (for unredeemed 8 series
bonds) being maintained with SBH,
Gunfoundry branch, Hyd. It is proposed to maintain same accounts by APPFCL
(State of Andhra Pradesh) and unclaimed/unpaid interest on bonds which were
allocated to Telangana state will be transferred to TGPFCL by opening 7 new
bank accounts with SBH, Gunfoundry branch, after obtaining data from M/s
Karvy till claimed by investors.
Out of Rs. 18,81,552/- (7 No-Lien Bank Accounts
of 8 series) Rs. 96,400/- (from series 1/2012) will be transferred to TGPFCL
and balance amount will be retained with APPFCL Bank accounts till repayment.
|
|
|
|
1 current Account is being maintained with SBH
Gunfoundry branch and same will be continued to APPFCL and new Current Account
will be opened for TGPFCL with the same branch.
|
|
Total
|
84,19,798
|
|
Details
of Bank balances for 21 banks are enclosed in Annexure-II.
6.
Allocation of
Posts & Employees (working on deputation) between APPFCL and TGPFCL:
Govt. of A.P vide G.O. Rt. No.196 dated.
20-07-2005, permitted MD/APPFCL to appoint on deputation one AAO from APCPDCL
and one Clerical Asst. from APTRANSCO to work with APPFCL. One AO/APCPDCL is
working on deputation from APCPDCL on Foreign Service basis. and one AAO from
APTRANSCO (superannuation is due on 31-07-2015) is working in APPFCL.
Accounts Officer will work for TGPFCL and an Asst.
Accounts Officer will work for APPFCL.
7.
Other Outsourcing services being obtained by APPFCL:
a.
M/s Karvy
Computershare Pvt. Ltd. (Registrar and Transfer Agent) has been working as a
Registrar and Transfer Agent for all the series of “APPFCL Bonds” raised by APPFCL since its incorporation in July
2000.
M/s Karvy Computershare Pvt. Ltd. to deal with M/s
NSDL & CDSL for creation of new ISINs
in respect of bonds allocated to TGPFCL (Telangana state) and listing of
bonds with M/s National Stock Exchange and any other related work and hence, they will continue to work for TGPFCL
b.
M/s State
Bank of Hyderabad Gunfoundry branch has been acting as a Debenture Trustee for
all the series of “APPFCL Bonds”
raised by APPFCL since its incorporation in July 2000. They will continue to
provide service to TGPFCL till alternate arrangements is done.
p.t.o.
8.
Any other issue:
Any issue not covered above shall be decided by both PFCs in accordance with the
principles laid down in the Reorganization Act 2014.
02. The Managing Director, APPFCL, Hyderabad shall take necessary action
accordingly.
(BY ORDER AND IN THE NAME OF THE GOVERNOR OF
ANDHRA PRADESH)
DR. S.K. JOSHI, IAS.,
SPECIAL CHIEF SECRETARY TO
GOVERNMENT (FAC)
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