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Fine planning involved in loot from privatisation of electrical distribution

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Published on: Tue, 28 Aug 2012 at 09:10 IST
Fine planning involved in loot from privatisation of electrical distribution
Lucknow: The electrical distribution contract of Agra being hauled by Torrent Power Ltd. was a well guided planning in which Pardaphash has been trying hard to surface the names of bureaucrats involving Navneet Sehgal, who have a played a vital role in structuring out the arrangements for Torrent. Now things lie unearthed, as the inputs which Pardaphash gave are in front of everyone, disclosing the truth of the company, who has given the state an economic shockwave worth thousands of crores. It now lies in the hands of current CM of UP, Akhilesh Yadav, on how he reacts to the matter and what steps does he takes in order to curb these culprits.

Earlier, we informed that the agreement that was hemmed-in between the UPPCL (Uttar Pradesh Power Corporation Limited) and Torrent Power Ltd., questions were raised against the same by the Deputy Auditor General. According to the report by the General, UP will experience a loss of over Rs 6,000 crore and since two years already have passed (two years since agreement), therefore a loss of over Rs 500 crore has already been registered. Since, the agreement stands for a period of 20 years, therefore, in the next 18 years, UP will receive an extension to the loss as Rs 5,000 crore.

As soon as BSP took over the state, in order to improve the status of electricity in Agra, the state government decided to give the contract of electricity distribution to private companies, so that they will run the same in an upgraded manner. But this is not what happened. Instead of the rightful approach, the set of bureaucrats involving the then Chairman of UP Power Corporation Navneet Sehgal and other top officers, got involved in a planning to expand their income with the initiation of the project. They literally manhandled the project by “generously” giving the contract to their dear company (Torrent), who in return provided “funds” for their (bureaucrats) improved lifestyles.

There was a lot of machination involved, this can be said on behalf of the fact that the report of Shakti Bhawan was overlooked, in which the executive engineer of Shakti Bhawan reported irregularities and possible losses in the agreement to the Chairman and the Managing Director of the UP Power Corporation, if the agreement was proceeded further. This report is tagged important because there was a possibility of a loss of approximately Rs 17,000 crore in the agreement done by the input based franchise in Agra and Kanpur.

It is worth mentioning that after giving the input based franchise, UP Power Corporation asked for suggestions from top officials. Sources inform that executive engineer of the commerce unit, Yatendra Pal Singh gave his detailed report in which rendering the tender of Kanpur and Agra to Torrent was highly opposed.

The facts that surfaced through that report was that the average billing rate was presented as Rs 2.82 per unit whereas according to the data from Southern Zone of Electricity Distribution Corporation, which previously handled Agra, the average billing rate is coming as Rs 4.01 per unit. This way Agra will witness a loss of Rs 5,500 crore and Kanpur, Rs 5,000 crore.

Navneet Sehgal did not leave a single opportunity to bag large amounts in his pockets in the privatisation of the project where he took use of his post to induct Torrent in the “business” of power distribution.

On Sehgal’s nod, before giving franchise to the power corporation, in order to appoint consultancies, asked for 10 such companies, which would have enlisted the terms for distribution of franchise to the power corporation. For this, only five companies filled the tender and out of these companies ‘Deloitte Touche Tohmatsu India Private Limited’ ascended to be the most fit, in terms of the panel. Sources also tell that Feedback Ventures should have been rejected due to illegal tender but money suppressed things here too. All the standards were ignored and it was made the consultant.

Deloitte having more experience in the business was overshadowed by Feedback, just because it asked for a month to do the job for which Deloitte asked 9 months. But Feedback couldn’t have done the work in the month which resulted in them (Feedback) asking time extensions, twice, eventually bringing the period of work to 14 months.

Regarding the matter, a delegation from the Board of Trade of Agra met Akhilesh Yadav and made the new CM aware of the problems faced by them and the delegation has asked him to disband the agreement made with Torrent Power.

For more information, read: Bureaucrat's favorite Torrent Power provides UP, a jolt of Rs 5,000 crore
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