[rule 4(1) (a)]

PPCL- (PRAGATI POWER CORPORATION LIMITED)

PART- I
 

Unless otherwise specified by the Government all assets, liabilities, rights and interest which the Board has in the Pragati Power Project (CCGT) with installed capacity of two units of 104 MW each and 1 unit of WHRU of 122 MW with all associated equipment, viz. gas turbines, steam turbines, generator transformer, heat recovery steam generator, control and instrumentation, HSD/Naptha facilities along with all the associated auxxilaries, stores, spare parts, consumables, raw materials, etc. and work in progress including the rights and interest in the following:-

 
I. GENERAL ASSETS/LIABILITIES :


Special tools and equipment, material handling equipment, earth movers, bulldozers, concrete mixtures, cranes, trailers, heavy and light vehicles, furniture, fixtures, office equipments, air conditioners, refrigerators, computers and signal systems, spares, consumables, testing laboratories and equipment, training centre, workshops, machinery and equipment send for repair, scrap and obsolete materials and works in progress.

 
II. OTHER ASSETS :

Other assets immovable and movable properties including buildings, plant and machinery, motor car, jeeps, trucks, cranes, trailers and other vehicles, furniture, fixtures, office equipments, air conditioners, computers etc. to the extent they are utilized in, operated by or associated with the assets reffered to under items I above shall also form part of generation Undertaking:

PROVIDED THAT notwithstanding I and II above and that the land was being used immediately before date of the transfer exclusively or primarily for the business of the transferee, no part of the land shall form part of the assets transferred under these rules. The transferee shall be entitled to use such land as a licensee of the government on payment of a consolidated amount of one rupee only per month during the period the transferee has the sanction or licence or authorization to undertake the generation business. As and when such licence or sanction or authorization is revoked or cancelled or not renewed or the area of supply where the land is situated is withdrawn from yhe transferee, the licence to the transferee in respect of such land shall stand cancelled.

 
III.
 MISCELLANEOUS :

1.

 Contracts, agreements, interest and arrangements.

2.

Loans secured and unsecured to the extent to be specified in Balance Sheet Part -II, subject to adjustments as per the notes of the Accounts of the Balance Sheet of the Transferee.
3.

Cash and bank balance to the extent to be specified in Balance Sheet Part-II, subject to adjustment as per the Notes of the Accounts of the Balance Sheet of the Transferee.
4.

Other current assets to the extent they are excusively or primarily associated or related to Generation Activities reffered to in items I to III above.
5.

Current and other liabilities and provisions to the extent to be specified in Balance Sheet -Part II, subject to adjustments as per the Notes of the Accounts of the Balance Sheet of the Transferee.
6.

Proceeding to the extent they are excusively or primarily associated with or related to Generation activities or undertaking or Assets reffered to in items I to III above.
 

Part - II
 
1.

Value of the Assets, liabilities, rights and interest of the Delhi Vidyut Board in Pragati Power Project as on the date of transfer shall be transfer to PPCL.

2.

Against the above transfer, PPCL shall issue equity shares and instruments favour of the Government, that shall be indicated through a seperate notification.

3.

The balance sheet of PPCL shall be drawn as on the date of transfer consolidating the existing assets and liabilities, share capital etc. of PPCL and the value of assets, liabilities, rights and interest transferred and shares and instruments for consideration therefor.