DVC bluntly, JBVNL give new payment guarantee, otherwise pre-paid electricity

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The Damodar Valley Corporation (DVC) has initiated action on the payment of arrears. Under the letter of credit, payment guarantee of 160 to 180 crores has been invoked. For this, a letter has been sent to the bank on behalf of DVC. A press release issued by DVC Chief Engineer Commerce Manik Rakshit said that if Jharkhand Bijli Vitran Nigam Limited (JBVNL) still did not pay against the arrears, it would be prevented from pulling power from the grid. This information was given by DVC’s PRO Abhay Ghari.On behalf of DVC Chief Engineer Rakshit, it has been said that a new letter of credit will have to be given to JBVNL for future power supply. If JBVNL is not in a position to give letter of credit, then it can deposit advance money for the next day’s power supply and DVC will continue to supply power as per the money deposited on daily basis.DVC has also said that those who want to become direct consumers of DVC are welcome. He can apply and DVC assures him a 24-hour power supply.

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