Amendment to the Tamil Nadu Electricity (Re-organization and Reforms) Transfer Scheme 2010 (180 Ex II 2 v3)
The Governor of Tamil Nadu, through the Government of Tamil Nadu, Energy (B1), issued G.O. Ms. No. 47, G.O. Ms. No. 48 and G.O. Ms. No. 49, each dated 13th August 2015, amending the Tamil Nadu Electricity (Re-organisation and Reforms) Transfer Scheme, 2010. The amendments extend provisional personnel transfer periods, revise the valuation and financial allocation of electricity undertaking assets and liabilities, and add a list of accounts rendering units and circle offices.
What the notifications govern
The amendments issued by the Government of Tamil Nadu, Energy (B1), concern the reorganisation of the former electricity Board and the transfer of personnel, assets and liabilities among Tamil Nadu Generation and Distribution Corporation Limited (TANGEDCO), Tamil Nadu Transmission Corporation Limited (TANTRANSCO) and TNEB Limited.
They deal mainly with administrative and accounting arrangements within the electricity organisations. The land references relate to the valuation of land transferred as part of those undertakings.
Personnel transfers
G.O. Ms. No. 47, Energy (B1), dated 13th August 2015, changes a provisional personnel transfer period in clause 9 from four years to four years and six months. It is deemed to have come into force on 1st November 2014.
G.O. Ms. No. 48, Energy (B1), dated 13th August 2015, substitutes wording stating that all personnel transfers from the Board to Tamil Nadu Generation and Distribution Corporation Limited under clause 6 are provisional for five years from the date of transfer. It is also deemed to have come into force on 1st November 2014.
Asset valuation and financial allocation
G.O. Ms. No. 49, Energy (B1), dated 13th August 2015, is deemed to have come into force from 1st November 2010. Its key changes include:
- Expanding the revalued fixed assets to include land, buildings, plant and machinery, lines, cables and network.
- Replacing the earlier revaluation reserve figure with Rs. 51,441.00 crores.
- Substituting opening balance sheet entries for Tamil Nadu Generation and Distribution Corporation Limited, Tamil Nadu Transmission Corporation Limited and TNEB Limited.
- Stating that land transfer values are based on the guideline value as on 31st October 2010.
- Stating that buildings, plant and machinery, and lines and cable networks are valued using reports from a Chartered Engineer and Government Registered Valuer.
- Allocating recognised contingent liabilities according to generation, distribution or transmission activities.
- Adding Schedule-D, which lists function-wise accounts rendering units and circle offices.
Relevance to property owners and buyers
The Government of Tamil Nadu notifications do not set out a land sale process, approval requirement or charge for private property transactions. Their property-related provisions concern the accounting value of land and other fixed assets transferred within the reorganised electricity undertakings.
This summary is generated from the source document to help you find what is relevant. The PDF above is authoritative. For advice on your own property, use LandLens One or speak to a qualified professional.
Common questions
Does this notification change the guideline value of my private property?
The notification does not prescribe new guideline values for private property. It states that land transferred within the electricity reorganisation was valued using the guideline value as on 31st October 2010.
Which electricity organisations are covered?
The amendments cover Tamil Nadu Generation and Distribution Corporation Limited, Tamil Nadu Transmission Corporation Limited and TNEB Limited.
When did the amendments take effect?
The personnel transfer amendments in G.O. Ms. No. 47 and G.O. Ms. No. 48 are deemed effective from 1st November 2014. The asset, liability and schedule amendments in G.O. Ms. No. 49 are deemed effective from 1st November 2010.
How were electricity undertaking buildings and machinery valued?
The notification states that buildings, plant and machinery, and lines and cable networks were valued based on reports provided by a Chartered Engineer and Government Registered Valuer.
