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Mumbai: BEST to take loan to repay Rs 561-crore dues to Tata Power
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Mumbai, May 21 -- With the deadline set by Tata Power ending on Tuesday, the Brihanmumbai Electric Supply and Transport Undertaking (BEST) said on Monday that it will take a loan to repay dues worth Rs 561.58 crore to the power company.
In a notice dated May 14, Tata Power had stated that if BEST failed to repay the dues by May 21, it would divert power supply from the same day for the latter's consumers. BEST supplies power to 10.5 lakh consumers between Sion and Colaba.
RJ Singh, BEST's deputy general manager, said, "We have written to Tata Power to not re-direct the power supply and also told them that the first instalment of the pending amount will be paid in the next couple of days. The total amount will be paid subsequently."
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