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Delhi government to bail out Tata Power

Posted on Feb 20, 10:55PM | IANS

New Delhi, Feb 20 : The Delhi government Wednesday decided to bail out Tata Power Delhi Distribution Ltd. (TPDDL) from its financial difficulties by infusing fresh equity of Rs.245 crore.

The decision was taken at a cabinet meeting chaired by Delhi Chief Minister Sheila Dikshit.

The government has a 49 per cent share in TPDDL.

Last year, TPDDL had sought financial assistance from the Delhi government.

This is not first time that the government has bailed out the power discom.

In 2011, a bailout package to Reliance backed BSES was offered. The government had infused fresh equity of Rs.500 crore to the company while Reliance had invested Rs.520 crore.