The acceptance of scheme is however, subject to acceptance of mandatory conditions; the funds will be provided by banks and financial institutions to liquidate the outstanding power purchase liability. UPPCL has submitted details of outstanding loans to Ministry of Power and is awaiting for its acceptance.
UPPCL has sought three months further extension to liquidate the outstanding dues. CERC, after considering the submission of UPPCL has directed CMD of UPPCL to appear before commission on next date of hearing with a firm payment schedule for liquidation of outstanding dues and why he should not be held personally responsible for non-compliance of directions of commission. The next date of hearing has been fixed for January 8.
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