Section 6(1) in The Bihar Electricity Supply Undertakings (Acquisition) Act, 1979
(1)The gross amount payable to a 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 State Government or the Board, as the case may be (excluding works paid for by the consumers) less depreciation calculated in accordance with Schedule I to this Act;(ii)the book value of all works in progress taken over by the State Government or the Board as the case may be, excluding works paid for by the consumers or prospective consumers ;(iii)the book value of all stores not in use including spare parts taken over by the State Government or the Board, as the case may be, and in the case of used stores and spare parts, if taken over, such sum as may be decided upon by the State Government or the Board as the case may be;(iv)the book value of all other fixed assets in use on the date of vesting and taken over by the State Government or the Board as the case may be, less depreciation calculated in accordance with Schedule I to this Act;(v)the amounts due to the licensee from the consumers for the energy supplied by him up to the date of vesting.Explanation 1. - For the purpose of determining the amount due to the licensee under clause (v), the State Government or the Board shall arrange to have the meter readings of all the consumers taken within fifteen days of the date of vesting and the consumption of energy for the period between the last reading taken by the licensee and the date of vesting shall be determined on pro rata basis. Fifty per cent of the amount due from the consumers for maximum demand charges for the month in which the date of vesting falls shall be paid to the licensee. The remaining 50 percent of the amount shall vest in the Government or the Board, as the case may be.(vi)the amount due from consumers in respect of every hire purchase agreement referred to in clause (ii) of sub-section (1) of Section 7 less a sum which bears to the difference between the total amount of the instalments and the original cost of the material 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 (ii) of sub-section (1) of Section 7.Explanation 2. - The book value of an/ fixed asset means its original cost and shall comprise-(a)the cost incurred by the licensee for the assets including the cost of equipment or materials, cost of delivery, labour and other incidental charges properly incurred in erecting and bringing the assets into beneficial use as certified by the Special Officer appointed by the State Government or the Board as the case may be under Section 10, the book value of the fixed assets of the licensee put into beneficial use on or before 31st March, 1958, as shown in the books of the undertaking shall be taken as the book value of the fixed assets of the licensee up to that date ;the cost of fixed assets of the licensee put into beneficial use or in the process of being put into beneficial use during the period commencing from the 1st April, 1958 upto the date of vesting, shall be determined on the basis of the cost of similar assets incurred by the Board during each corresponding financial year of the cost of the fixed assets brought into beneficial use as shown in the books of the undertaking, whichever is less ;(b)the cost of supervision actually incurred but not exceeding fifteen per cent of the cost of labour referred to in clause (a) of the Explanation:Provided that before deciding the amounts under this sub-section, the licensee shall be given an opportunity by the State Government or the Board, as the case may be of being heard, after giving him a notice of at least 15 days therefor.
