Section 27 in The Orissa Electricity Reform Act, 1995
27. Finances of licensees.
(1)The State Government may, from time to time, make sub-sections to any licensee for the purpose of Sub-section (3) of Section 12 for such amounts as may be recommended by the Commission and on such terms and conditions as the State Government may determine.(2)The State Government may, from time to time, advance loans to any licensee or generating company which for the time being is wholly or substantially owned by the State Government, on such terms and conditions, not inconsistent with the provisions of this Act or the Electricity (Supply) Act, 1948, as the State Government may determine.(3)The State Government may guarantee in such manner as it thinks fit the repayment of the principal or the payment of interest, or both, of any loan proposed to be raised by any licensee or generating company which is for the time being wholly or substantially owned by the State Government, or the discharge of any other financial obligation of any such licensee or generating company :Provided that the State Government shall, so long as such guarantee is in force, lay before the State legislature during the budget session in every year a statement of the guarantees, if any, given during the current financial year of the State and an up-to-date account of the total sums, if any, which have been paid out of the State revenues in each case by reason of any such guarantees or paid into State revenues towards repayment of any money so paid out.(4)The State Government shall be entitled to inspect and verify the accounts of every licensee and generating company.Chapter-IX Commission's Power to Pass Orders and Enforce Decisions
