Bare Acts Live

The Tinsukia and Dibrugarh Electric Supply Undertakings (Acquisition) Act, 1973

Assam Act 10 of 1973

Last Updated 11th February, 2020 [ass195]

(a) 'Annual Account' means the account of the undertaking rendered to the Government annually under and in accordance with the Electricity Act;

(b) 'Board' means the Assam State Electricity Board constituted under Section 5 of the Electricity Supply Act;

(c) 'Document' in relation to an undertaking, includes its books, accounts, registers, maps and plans ;

(d) 'Electricity Act' means the Indian Electricity Act, 1910 (Central Act 9 of 1910);

(e) 'Electricity Supply Act' means the Electricity Supply Act, 1948 (Central Act 54 of 1948) ;

(f) 'Fixed assets' includes works, spare parts, stores, tools, motor and other vehicles, office equipment and furniture ;

(g) 'Government' means the Government of Assam ;

(h) 'Licensee' means the Tinsukia Electric Supply Company Ltd. and/or the Dibrugarh Electric Supply Company Private Ltd., as the case may be;

(i) 'Prescribed' means prescribed by rules made under this Act ;

(j) 'Undertaking' means the Tinsukia Electric Supply Undertaking owned and managed by the Tinsukia Electric Supply Company Ltd., and/or the Dibrugarh Electric Supply Undertaking owned and managed by the Dibrugarh Electric Supply Company Private Ltd., as the case may be;

(k) 'Vesting date' means the 27th day of September, 1972, at 11.30 p.m. being the date and time when the undertaking shall vest in the Government under Section 4 ;

(l) 'Works' includes electric supply lines and any lands, buildings, machinery or apparatus required to supply energy and to carry into effect the object of a licence granted under the Electricity Act ;

(m) other expressions shall have the meanings respectively assigned to them in the Electricity Act.

(i) the book value of all completed works in beneficial use pertaining to the undertaking and taken over by the Government (excluding works paid for by consumers) less depreciation calculated in accordance with Schedule I;

(ii) the book value of all works in progress taken over by the Government, excluding works paid for by consumers or prospective consumers ;

(iii) the book value of all stores including spare parts taken over by the Government and in the case of used stores and spare parts, if taken over, such sum as may be decided upon by the Government;

(iv) the book value of all other fixed assets in use on the vesting date and taken over by the Government less depreciation calculated in accordance with Schedule I;

(v) the book value of all plants and equipments existing on the vesting date, if taken over by the Government, but no longer in use owing to wear and tear or to obsolescence, to the extent such value has not been written off in the books of the licensee less depreciation calculated in accordance with Schedule I;

(vi) the amount due from consumers in respect of every hire-purchase agreement referred to in Section 7(i) and (ii) less a sum which bears to the difference between the total amount of the instalments and the original cost of the material or equipment, the same proportion as the amount due bears to the total amount of the instalments ;

(vii) any amount paid actually by the licensee in respect of every contract referred to in Section 7(1)(iii).

(i) the purchase price paid by the licensee for the asset, including the cost of delivery and all charges properly incurred in erecting and bringing the asset into beneficial use as shown in the books of the undertaking;

(ii) the cost of supervision actually incurred but not exceeding fifteen per cent of the amount referred to in paragraph (i) :

(i) all the fixed assets of the licensee and all the documents relating to the undertaking ;

(ii) all the rights, liabilities and obligations of the licensee under hire-purchase agreements, if any, for the supply of materials or equipment made bona fide before the vesting date ;

(iii) all the rights, liabilities and obligations of the licensee under any other contract entered into bona fide before the vesting date, not being a contract relating to the borrowing or lending of money, or to the employment of staff.

(a) the amount, if any, already paid in advance ;

(b) the amount, if any, specified in Section 8 ;

(c) the amount due, if any, including interest thereon, from the licensee to the Board, for energy supplied by the Board before the vesting date ;

(d) all amounts and arrears of interest, if any, thereon due from the licensee to the Government;

(e) the amount, if any, equivalent to the loss sustained by the Government by reason of any property or rights belonging to the undertaking not having been handed over to the Government, the amount of such loss being deemed to be the amount by which the market value of such property or rights exceeds the amount payable therefor under this Act, together with any income which might have been realised by the Government, if the property or rights had been handed over on the vesting date;

(f) the amount of all loans due from the licensee to any financial institutions constituted by or under the authority of the Government and arrears, or interest, if any, thereon;

(g) all sums paid by consumers by way of security deposit and arrears of interest due thereon on the vesting date, in so far as they have not been paid over by the licensee to the Government, less the amounts which according to the books of the licensee are due from the consumers to the licensee for energy supplied by him before that date;'

(h) all advances from consumers and prospective consumers, and all sums which have been or ought to be set aside to the credit of the consumers' fund, in so far as such advances or sums have not been paid over by the licensee to the Government;

(i) the amounts remaining in Tariffs and Dividends Control Reserve, Contingencies Reserve and Development Reserve, in so far as such amounts have not been paid over by the licensee to the Government;

(j) the amount, if any, as specified in Sections 11(2) and 11(3);

(k) the amount, if any relating to debts, mortgages or obligations as mentioned in proviso to Section 7(2) :

(a) whether any property belonging, or any right, liability or obligation attaching, to the undertaking, vests in the Government;

(b) whether any fixed asset forms part of the undertaking;

(c) whether any contract or hire-purchase agreement or other contract refereed to in Section 7(1)(ii) or (iii) has been entered into bona fide or not;

(d) whether any agreement to supply electricity entered into by the licensee prior to the vesting date is of the nature referred to in proviso to Section 7(3).

Schedule

[See Section 6(1)]

Table