Section 6 in The M.P. Electricity Reforms First Transfer Scheme Rules, 2003
6. Transfer of Undertakings by the State.
(1)The Undertakings forming part of Generation Undertakings as set out in Schedule-'A' shall stand transferred to and vested in GENCO on and from the date of the transfer to be notified by the State Government subject to the terms and conditions specified in the Act and these Scheme Rules.(2)The Undertakings forming part of Transmission Undertakings as set out in Schedule-'B' shall stand transferred to an vested in TRANSCO on and form the date of the transfer to be notified by the State Government subject to the terms and conditions specified in the Act and these Scheme Rules.(3)The Undertakings forming part of Distribution Undertaking as set out in Schedule-'C' shall stand transferred to and vested in DISCOM-1 on and from the date of the transfer to be notified by the State Government subject to the terms and conditions specified in the Act and these Scheme Rules.(4)The Undertakings forming part of Distribution Undertakings as set out in Schedule-'D' shall stand transferred to and vested in DISCOM-2 on and from the date of the transfer to be notified by the State Government subject to the terms and conditions specified in the Act and these Scheme Rules.(5)The Undertakings forming part of Distribution Undertakings as set out in Schedule-'E' shall stand transferred to and vested in DISCOM-3 on and from the date of the transfer to be notified by the State Government subject to the terms and conditions specified in the Act and these Scheme Rules.(6)The Undertakings or the Properties and Liabilities as set out in Schedule 'F' shall be retained by the Board till further orders of the State Government.(7)On such transfer and vesting of the Undertakings in terms of sub-rules (1) to (5) of these Scheme Rules and except as otherwise provided, the respective transferee, shall be responsible for all functions, contracts, rights, deeds, schemes, bounds, agreements and other instruments of whatever nature relating to the respective Undertakings transferred to it to which the Board was as a party, subsisting or having effect on the date of the transfer, in the same manner as the Board was liable immediately before the date of the transfer, and the same shall remain in force and effect against or in favour of the respective transferee and may be enforced effectively as if the respective transferee has been a party thereto instead of the Board.(8)(a)The transfer to and vesting of the Undertakings to the transferees in terms of these Scheme Rules shall take effect immediately on the date of the transfer as may be notified by the State Government for the purpose notwithstanding that the value of such Undertakings have not been determined and shall be determined at a later date.(b)The value of the assets to be transferred to the Transferees shall be the fair value determined in any one or more of the following basis.(i)Revenue earning potential, or(j)Depreciated replacement value, or(k)Book value(c)The opening balance-sheet of the Transferees may be finalised and notified by the State Government at any time during the provisional period mentioned in Rule 10 of these Scheme Rules.(9)The State Government may by an order to be issued for the purpose amend, vary, modify, add, delete or otherwise change the terms and conditions specified in the Schedules at any time during the provisional period mentioned in Rule 10 of these Scheme Rules.
