EB assets transfer deadline extended

CHENNAI: The State government has extended the time frame till October 31 for the final transfer of assets and liabilities to the successor entities of the erstwhile TNEB viz TNEB Limited (holding company), TANGEDCO and TANTRANSCO (subsidiaries).In a government order (GO Ms. No.2, dated January 2, 2012), the State said it has accepted the proposal of the Chairman and Managing Director of TANGEDCO seeking an extension of one year — till October 31 — for the final transfer of assets and liabilities.Through an order (GO Ms.No.100, Energy (B2) Department, dated October 19, 2010), the State government notified the provisional transfer scheme detailing transfer of assets, liabilities and personnel of erstwhile TNEB with November 1, 2010, as effective date of implementation as per the Electricity Act, 2003.Meanwhile, CMD of TANGEDCO represented to the government that to effect the final transfer, audited accounts up to October 31, 2010, were required. It is, however, estimated to be available only during June this year. Hence an extension was sought which has been approved by the government.