Jharkhand Urja Vikas Nigam Limited
Jharkhand Urja Vikas Nigam Limited Started operations on 6th January, 2014 after unbundling of erstwhile Jharkhand State Electricity Board (JSEB) in the year, 2013. Jharkhand Urja Vikas Nigam Limited was incorporated under the Companies Act, 1956 on the Sixteenth day of September Two Thousand Thirteen.
Jharkhand Urja Vikas Nigam Limited (JUVNL) is the incorporated Power Holding Company in the State of Jharkhand by unbundling of erstwhile Jharkhand State Electricity Board (JSEB).
JUVNL envisions contributing for all round development and ushering prosperity by catering all generation, transmission and distribution of power related requirements within the state of Jharkhand. It is dedicated towards meeting aspirations of the citizens and providing quality power through coordinated and efficient functioning of its subsidiary companies under its umbrella namely: Jharkhand Urja Utpadan Nigam Limited (JUUNL), Jharkhand Urja Sancharan Nigam Limited (JUSNL) & Jharkhand Bijli Vitran Nigam Limited (JBVNL)
As per the Jharkhand State Electricity Reform’s Revised Transfer Scheme, 2015 notified by Department of Energy, GoJ vide notification no. 2917 dated 20.11.2015. The main function and duties of Jharkhand Urja Vikas Nigam Limited are as follows: -
(a) The Jharkhand Urja Vikas Nigam Limited (Holding Company) shall be the holding company of the Jharkhand Urja Utpadan Nigam Ltd, Jharkhand Urja Sancharan Nigam Ltd and Jharkhand Bijli Vitran Nigam Ltd (hereinafter referred to as “Transferee Entities”), vested with the assets, interest in property, rights and liabilities of Jharkhand State Electricity Board (“The Board”) as per the Governments of Jharkhand’s decision to reorganize the Board under the provisions of Part – XIII (Re-organisation of Board) of the Electricity Act 2003 (and the notified transfer schemes) and the resolutions, circulars, notification or ordinances issued in this regard.
(b) This Company shall be primarily an investment company and shall invest in companies in the field of electricity. These companies may be engaged in the business of generation, transmission, distribution and trading of electricity or any or all of these activities.
(c) The Holding Company shall undertake coordination activities between Jharkhand Urja Utpadan Nigam Ltd, Jharkhand Urja Sancharan Nigam Ltd and Jharkhand Bijli Vitran Nigam Ltd. for smooth functioning of the above mentioned subsidiary companies.
(d) The Holding Company shall handle all the disputes between Jharkhand Urja Utpadan Nigam Ltd, Jharkhand Urja Sancharan Nigam Ltd and Jharkhand Bijli Vitran Nigam Ltd.
(e) The Holding Company shall provide all the necessary support to Jharkhand Urja Utpadan Nigam Ltd, Jharkhand Urja Sancharan Nigam Ltd and Jharkhand Bijli Vitran Nigam Ltd.
(f) Operating expenses incurred by the Holding Company like administration & general expenses legal and consulting fees etc. would be shared by the Jharkhand Urja Utpadan Nigam Ltd, Jharkhand Urja Sancharan Nigam Ltd and Jharkhand Bijli Vitran Nigam Ltd, in the ratio of their respective equity.
(g) To absorb the personnel of Board under the transfer scheme and their further transfer to the subsidiary companies as in the scheme, till the new arrangements for absorption in the Transferee companies are notified and the Transferee companies have established the proper organization structure.
(h) To administer the master trust for managing the terminal benefits of the employees and pensioners and any amounts available in the existing Trusts/funds for the employees of the board under separate accounts on the effective date, which would stand transferred to such master trust on its formation.
(i) Holding Company shall handle all issues relating to the subsidiary companies in respect of: -
- Business of purchasing, importing, exporting and trading of power subject to the provisions of Electricity Act, 2003 and to supply electric power generated by other plants to transmission companies, distribution companies, trading companies, other generation companies and other Persons, and in this regard execute agreements with Central and State generating authorities, departments or companies, Independent Power Producers and other Persons.
- Resolution of any dispute amongst the Transferee companies on account of the transfer scheme including on the apportionment of assets and liabilities etc.
- The disputed assets and liabilities in respect to division of erstwhile BSEB into BSEB and JSEB and also the assets and liabilities to the extent not included in schedules, if any.
- To prepare and notify the organization structure for the subsidiary companies.
- Any other issues which the Holding Company deemed fit for the smooth operations of the Transferee entities.
- Business of purchasing, importing, exporting and trading of power subject to the provisions of Electricity Act, 2003 and to supply electric power generated by other plants to transmission companies, distribution companies, trading companies, other generation companies and other Persons, and in this regard execute agreements with Central and State generating authorities, departments or companies, Independent Power Producers and other Persons.
- Resolution of any dispute amongst the Transferee companies on account of the transfer scheme including on the apportionment of assets and liabilities etc.
- The disputed assets and liabilities in respect to division of erstwhile BSEB into BSEB and JSEB and also the assets and liabilities to the extent not included in schedules, if any.
- To prepare and notify the organization structure for the subsidiary companies.
- Any other issues which the Holding Company deemed fit for the smooth operations of the Transferee entities.