Coal India’s receivables from power firms touch Rs 13,800 crore in February
KOLKATA: Coal IndiaNSE 5.39 %’s receivables from power companies crossed Rs 13,800 crore in February, increasing almost 71% since April 2019.
Coal India executives are alleging that power producers are disputing and refusing to pay incentives accrued for supplying coal beyond annual quota and revised logistics rates since 2017.
A set of state-government owned power plants from Uttar Pradesh, West Bengal, Andhra Pradesh, Tamil Nadu and Rajasthan are not paying dues regularly on time which has inflated the overall receivables. All this has bloated the total receivables by Rs 5,700 crore this year.
