Govt to bail out Mahavitaran | mumbai | Hindustan Times
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Govt to bail out Mahavitaran

mumbai Updated: Aug 12, 2010 01:45 IST
HT Correspondent
HT Correspondent
Hindustan Times
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A state power distribution company, Mahavitaran, had a windfall on Wednesday as the Cabinet approved to clear the 10-year dues of Rs 1518.75 crore that the company wasn’t sure of recovering from its parent organisation.

The pending money accounted for the subsidy that the state had approved for farmers when they had refused to pay fuel cost adjustment charges. The charge is approved by the state regulator for helping the companies that need to pay more for fuel.