Section 6 in The Tinsukia and Dibrugarh Electric Supply Undertakings (Acquisition) Act, 1973
6. Gross amount payable to licensee.
(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 Government (excluding works paid for by consumers) less depreciation calculated in accordance with Schedule I;(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 Schedule I;(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 Schedule I;(vi)the amount due from consumers in respect of every hire-purchase agreement referred to in Section 7(i) and (ii) 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 Section 7(1)(iii).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 actually incurred but not exceeding fifteen per cent of the amount referred to in paragraph (i) :Provided that before deciding the amounts 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.(2)In addition a sum equal to 10 per cent of the amounts assessed under clauses (i) to (iv) of sub-section (1) shall be paid to the licensee by the Government.(3)When any asset is acquired by the licensee after the expiry of the period to which the latest annual accounts relate, the book value of the asset shall be such as may be decided upon by the Government:Provided that before deciding the book value of any such asset, the licensee shall be given an opportunity by the Government of being heard, after giving him a notice of at least 15 days therefor.
