Section 3(2) in The Orissa Electricity Reform (Transfer of Assets, Liabilities, Proceedings and Personnel of Gridco to Distribution Companies) Rules, 1998
(2)The Gridco and each of the Distcos have agreed that the distribution Business and Undertaking of the Central Zone, North Eastern Zone, Western Zone and Southern Zone, taking into consideration the relatedness, usability, proximity and contiguity to the functions to be performed, suitability, place and nature of work and the viability of the distribution zones, shall comprise of the Specified Assets, Specified Liabilities, Specified Proceedings and Specified Personnel as set out in Schedules A, B, C and D respectively and that the value of the assets and extent of the liabilities transferred, the shares to be issued to Gridco as consideration for the transfer and other financial details contained in the respective schedules have been worked out based on the professional advice received and verified by them.The Gridco and each of the Distcos have further agreed that any difference which may arise in regard to the above shall be mutually settled between Gridco and Distcos with no liability to the State Government.
