Cancel LOI issued to TPCL, Engineers’ body urges Odisha CM


Bhubaneswar: The engineers’ body has urged the CM to cancel LOI issued to Tata Power Company (TPCL) in accordance with clause-34 and 61 of the vesting order.

The Odisha Rajya Bidyut Shramika Karmachari Engineers’ Ekta Manch in a letter to the Chief Minister Naveen Patnaik has requested him to direct GRIDCO to refund TPCL of the value of 51 per cent equity share amounting to Rs 178.50 crore and refund the performance guarantee money of Rs 150 crore to TPCL and allow CESU to continue with the operations of the central discom as per the earlier scheme.

It said the TPCL has filed review petition within just twenty days of taking over the assets and license of CESU.

The Mancha tried to bring to the notice of CM that  this is an attempt of TPCL, 51% share holder in the company named TP Central Odisha Distribution Limited (TPCODL), to gain absolute control over TPCODL and license to misuse the public assets. It said this is an attempt to play with the interest of the consumers and employees.

The body alleged that the TPCL even after acquiring the valuable public assets at very low value is not satisfied with its profiteering attitude.

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