The reorganisation process of the 52-year-old Tamil Nadu Electricity Board (TNEB) will cross yet another milestone on Monday when the authorities file applications with the Chennai office of the Registrar of Companies for registration of Tamil Nadu Generation and Distribution Corporation Limited (TANGEDCO) and TNEB Limited.
While the TNEB Limited will be the holding company, the TANGEDCO will be its subsidiary. In June, another subsidiary, Tamil Nadu Transmission Corporation Limited (TANTRANSCO), was registered.
Under the Electricity Act, the TNEB requires to be restructured. In October last year, the State government decided to reorganise the board by establishing the holding company and two subsidiaries. Senior TNEB officials are hopeful that the registration formality will be over in a few weeks. The State government has been approached for clearing the composition of the TANTRANSCO.
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As part of its measure of facilitating the smooth process of the reorganisation of the power utility, the Board had arranged trips for four batches of the unions to different States to make an assessment of the restructuring process. The unions have given their reports. Also, a consultant has submitted to the Board a couple of options on the asset transfer scheme. The Board management is planning to hold discussion with the unions in this regard.
The present deadline for the restructuring of the Board expires on December 15.