BSES gets Rs 5,000-cr IDBI Bank loan to pay dues

Reliance Infrastructure-backed discom BSES has been sanctioned a loan of Rs 5,000 crore by IDBI Bank and the amount will be used by the company to pay up its outstanding dues to a number of power generation and transmission utilities.

The loan has been granted by the bank after the discom deposited a security deposit of Rs 1,020 crore.

"BSES has informed us that a loan of Rs 5,000 crore has been granted to it by the IDBI bank," Delhi Electricity Regulatory Commission (DERC) Chairman PD Sudhakar said.

He said the company has already started paying its outstanding dues to some of the generation and transmission companies.

 

In November, citing severe financial crisis, BSES had informed DERC that it would not be able to pay dues to the tune of Rs 3,000 crore to power generation and transmission utilities including NTPC.