Section 6(1) in The Shillong Electric Supply Undertaking (Acquisition) Act, 1977
(1)The gross amount payable to the licensee shall be the aggregate value of the amounts specified below :-(i)the book value of all completed works in beneficial use pertaining to the undertaking and taken over by the Government (excluding works paid for by consumers) less depreciation calculated in accordance with the Schedule;(ii)the book value of all works in progress taken over by the Government, excluding works paid for by consumers or prospective consumers;(iii)the book value of all stores including spare parts taken over by the Government and in the case of used stores and spare parts, if taken over, such sum as may be decided upon by the Government;(iv)the book value of all other fixed assets in use on the vesting date and taken over by the Government less depreciation calculated in accordance with the Schedule;(v)the book value of all plants and equipments existing on the vesting date, if taken over by the Government, but no longer in use owing to wear and tear or to obsolescence, to the extent such value has not been written off in the books of the licensee less depreciation calculated in accordance with the Schedule;(vi)the amount due from consumers in respect of every hire-purchase agreement referred to in clause (ii) of sub-section (1) of Section 5, less a sum which bears to the difference between the total amount of the instalments and the original cost of the materials or equipment, the same proportion as the amount due bears to the total amount of the instalments;(vii)any amount paid actually by the licensee in respect of every contract referred to in clause (iii) of sub- section (1) of Section 5;(viii)the amount of cash and bank balances taken over by the Government under sub-clause (a) of clause (iv) of sub- section (1) of Section 5;(ix)the value of the items taken over by the Government under sub-clauses (b) and (c) of clause (iv) of sub-section (1) of Section 5, less bad debts or unrealisable amounts, as the case may be.Explanation. - The book value of any fixed asset means its original cost and shall comprise :-(i)the purchase price paid by the licensee for the asset, including the cost of delivery and all charges properly incurred in erecting and bringing the asset into beneficial use as shown in the books of the undertaking;(ii)the cost of supervision, if any, actually incurred and charged to the value of the assets in the books of the undertaking, but not exceeding fifteen per cent of the amount referred to in paragraph (i) :Provided that before deciding the amount under this sub-section, the licensee shall be given an opportunity by the Government of being heard, after giving him a notice of at least 15 days therefor.
