Dakshin Haryana Bijli Vitran Nigam to credit security deposit interest to power bills of 41 lakh consumers
Gurgaon: The Dakshin Haryana Bijli Vitran Nigam (DHBVN) will credit around Rs 150 crore in the electricity bills of nearly 41 lakh consumers as a way of paying interests on advance security deposits (ACD) collected by the discom earlier.
Advance security deposit is an amount (equal to two average billing cycles) that is charged from consumers at the time of establishing a new power connection or increasing load capacity.
DHBVN had collected Rs 2,234 crore from its consumers as advance deposits.
In 2022, Haryana's Electricity Regulatory Commission (HERC) made it mandatory for discoms to review advance deposits collected by consumers. DHBVN then decided to pay consumers interests on these deposits.
The interest accrued in a year is supposed to be adjusted in the bills for the customer by the next financial year. But, if the discom fails to do this, the discom will have to pay higher interest – at 18% -- for the delayed time period.
"DHBVN has decided to pay interest at the rate of 6.75% per annum on the advance security amount (ACD) deposited by consumers. This Rs 150.8 crore is interest received by all consumers on their security deposits," said A Sreenivas, managing director of DHBVN and secretary of Haryana's energy department.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Зачем на ночь сжигают лавровый лист?
smakspices.shop
Undo
"The consumption security deposit is collected as per the direction of HERC. On the advance collected by discom, consumers will get annual interest, which will be adjusted against their electricity bills," said a senior DHBVN official.
According to the discom, Rs 3,454.7 lakh is to be paid to 6.2 lakh consumers in Faridabad circle, and Rs 5799.5 lakh to 6.3 lakh consumers in the two Gurgaon circles.
Earlier, residents challenged the collection of advance security deposits, alleging that multiple such payments were sought.
"We already deposited the security amount to the discom at the time of taking the electricity connection, they again took advance security deposit. Despite all this, we continue to face poor quality of power supply," said Pradeep Sharma, a resident of Sector 45 in Gurgaon.
Officials had denied this, saying deposits were taken only during a new connection or for increasing load capacity.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
34 minutes ago
- Time of India
Zen Technologies shares in focus after board approves acquisition of TISA Aerospace
Shares of Zen Technologies are likely to be in focus on Monday, June 23, following the company's announcement of a proposed acquisition of a majority stake in TISA Aerospace, an emerging defence technology firm specialising in loitering munitions and unmanned aerial vehicles (UAVs). In an exchange filing, Zen Technologies disclosed that its Board of Directors, at a meeting held on Saturday, approved an investment of up to Rs 6.56 crore towards the proposed acquisition. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Costco Shoppers Say This Wrinkle Cream Is "Actually Worth It" The Skincare Magazine Undo The investment will be executed through two components: The acquisition of 2,06,518 equity shares of Rs 10 each from an existing shareholder of TISA Aerospace, representing 54.67% of the total equity paid-up share capital of the company. The acquisition of 4,00,000 units of 6% Compulsory Convertible Debentures (CCDs) of Rs 100 face value each, from an existing CCD holder, also issued by TISA. The Board of Directors has unanimously approved the investment, which involves acquiring shares from current stakeholders of TISA as well as CCDs previously issued by TISA. The company stated that the transaction represents an investment in a domain of strategic relevance, comprising indigenously developed defence technologies. Live Events TISA Aerospace is positioned as a domestic player within the high-technology defence ecosystem. The company is engaged in the development of loitering munitions and UAVs—both of which are key segments within the evolving landscape of modern precision-guided weapon systems. Zen Technologies, through this acquisition, is entering a segment associated with advanced defence applications. 'This acquisition is a decisive step towards strengthening Zen's position in the rapidly evolving defence drone sector. TISA's expertise in loitering munitions provides us with immediate access to advanced technologies and platforms that align with the emerging operational requirements of the Armed Forces. TISA has achieved significant R&D milestones, including the successful execution of a project for DRDO with critical design assistance from IIT Madras. By integrating these capabilities with our existing strengths in anti-drone systems and propulsion technologies, we are building a broader and more future-ready defence portfolio,' said Ashok Atluri, Chairman and Managing Director of ZenTechnologies. Also read: How will US strikes on Iran affect Indian markets this week? Shares of Zen Technologies closed flat at Rs 1,900.30 on the BSE on Friday. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Time of India
35 minutes ago
- Time of India
YES Bank shares in focus after Rs 201-crore recovery from NPA settlement
YES Bank shares will be in focus on Monday after the private sector lender announced a one-time settlement (OTS) related to a non-performing asset (NPA), resulting in a recovery of Rs 201 crore. In a stock exchange filing, the bank said, 'YES BANK has executed an OTS in connection with an NPA, and the borrower has paid Rs 201 crore in full and final settlement of the monies owed to the Bank.' by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Esta é a melhor maneira de se livrar de pólipos na pele! Conselhos E Truques The net amount received—after adjusting for the carrying value of the asset—exceeded the materiality threshold under the amended Listing Regulations, thereby triggering a disclosure under Regulation 30. Also Read: 11 Nifty mid & smallcap stocks that can rally 40-90% over the next 12 months Earlier this month, international rating agency Moody's upgraded YES Bank's rating to Ba2 from Ba3 and revised the outlook to Stable, citing improvements in the bank's credit profile. The agency also raised the bank's baseline credit assessment (BCA) to ba3 from b1. Live Events 'YES Bank's 'Ba2' deposit ratings are one notch above its 'ba3' BCA based on our expectation of a moderate likelihood of support from the Government of India in times of need,' Moody's said. Also Read: Is the grey market premium misleading? Decoding the valuation gap in HDB Financial's IPO Separately, the Reserve Bank of India (RBI) recently approved a six-month extension for Managing Director and CEO Prashant Kumar , effective from October 6 or until a new MD & CEO takes charge. Kumar's current three-year term ends in October, and the bank has initiated a global search for his successor. In May, Sumitomo Mitsui Banking Corp (SMBC) signed a definitive agreement to acquire a 20% stake in YES Bank for Rs 13,483 crore at Rs 21.5 per share. The stake purchase includes 13.19% from State Bank of India and 6.81% from other banks, including Axis Bank , HDFC Bank , ICICI Bank , and others. YES Bank share price target According to Trendlyne, the average target price for YES Bank is Rs 17, suggesting a potential downside of nearly 16% from current levels. Of the 12 analysts tracking the stock, most maintain a 'Sell' rating. The stock has gained 17% over the past three months but is still down 18% over the last 12 months. YES Bank's current market capitalisation stands at Rs 61,941 crore. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Economic Times
35 minutes ago
- Economic Times
Waaree Renewable Technologies shares in focus as order value rises to Rs 1,480 crore
Waaree Renewable Technologies share price history Live Events Waaree Renewable Technologies technical performance (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Shares of Waaree Renewable Technologies will be in focus on Monday, June 23, after the company announced a revision in the scope of work under an existing EPC contract , increasing the order value by Rs 246.92 crore to a total of Rs 1,480.40 crore.'We are pleased to inform you that WAAREERTL has received a revised scope of work under the existing contract for the execution of Engineering, Procurement, and Construction (EPC) works for a ground-mounted solar PV project of 2012.47 MWp capacity,' the company said in an exchange its regulatory filing, the company confirmed that the revised scope pertains to the execution of EPC works for the ground-mounted solar PV project with a capacity of 2012.47 contract continues to fall under a commercial order awarded by a domestic entity engaged in the development and implementation of renewable energy the past year, shares of Waaree Renewable Technologies have declined by 51.22%. On a year-to-date (YTD) basis, the stock is down 30.15%, and it has lost 28.24% over the past six months. However, the stock has gained 16.70% in the last three months, though it remains subject to a commercial order issued by a domestic entity, and has dipped 3.60% over the past Friday, Waaree Renewable Technologies shares closed 4.4% higher at Rs 984.80 on the stock is currently trading well above all its key exponential moving averages and is oscillating near the 59 level on the Relative Strength Index (RSI), indicating moderately strong momentum.
