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[Cites 0, Cited by 0] [Section 3(7)] [Section 3] [Entire Act]

State of Odisha - Subsection

Section 3(7)(i) in The Orissa Electricity Reform (Transfer of Assets, Liabilities, Proceedings and Personnel of Gridco to Distribution Companies) Rules, 1998

(i)Within the time prescribed for the purpose by the State Government the relevant Distco shall execute a subsidiary loan agreement with the State Government and a project implementation agreement on terms and conditions approved by IBRD, inter alia, providing for schedule of repayment of all such Specified Liabilities on account of funds provided from the loan from IBRD, the interest, charges and other outgoings thereon, the security and safeguards to the satisfaction of the State Government to protect the interest of IBRD and the State Government and other applicable terms and conditions, whereupon the obligation to make payment of such Specified Liabilities shall stand transferred from Gridco to the Distcos; and