Loading ...
Sorry, an error occurred while loading the content.

Corus Grand Treason Of Ratan Tata- Inventor’s Exclusive

Expand Messages
  • Ravinder Sekhon
    Corus Grand Treason Of Ratan Tata- Inventor’s Exclusive To All Consumers/ Shareholders/ NGOs/ Charities/ Governments This is story of grand treason,
    Message 1 of 1 , Feb 1, 2007
    • 0 Attachment

      Corus Grand Treason Of Ratan Tata- Inventor’s Exclusive

       
      To All Consumers/ Shareholders/ NGOs/ Charities/ Governments
       
      This is story of grand treason, relentless exploitation of people of India and gross incompetence of Ratan Tata led group and corrupt state institutions.
       

      Nowhere in the world people could expect some one fed on “Meat Of Heart Of People Of India For 100 Years,” as is termed in a Punjabi poetry, could be so treacherous to the very people like Ratan Tata. $11.2b he tunneled out of India is enough to electrify the entire un electrified villages of India.

       
      He knew very well that in India more than the population of EU don’t have access to electricity, EU + USA population don’t have access to sanitation and safe water supply, education and healthcare. $11.2b he tunneled out of India is enough to electrify the entire un-electrified villages of India lighting homes of 500 million people.
       
      Jamshedpur where the project was first sited a century ago nearly half of India in area around it is the dark zone of the otherwise highly populated region in the world. There are huge deposits of minerals but for unexplained reason all Tata produced in 100 years is 4 MT steel plant. Once Tata learnt it can get collaborations with Mercedes it completely neglected the region.
       
      Though it is not bad to collaborate to with Mercedes but what is worse is that after 60 years Tata group of 96 companies could not secure a single USA patent in recognition of any significant technology developed in past 6-7 years and collaborated with SKY to launch DTH service. Twenty-five years after Mercedes collaboration for trucks when 90,000 Ford Trucks of similar engine capacity were introduced in 1980, imports gave 60% more mileage
       
      Taj Hotel in Mumbai built by his grand father where he lives for he hates poverty but presently over 10 million people live in slums in Mumbai and he flies over them every day and travel through heavily slummed zones from airport to his Taj Hotel.
       
      On going through the following facts you will like Ratan Tata to be in jail for 100 years. Andrew Fastow, Jeff Skilling and Ken Lay were convicted for very mild charges in comparison.
       
      Grand Treachery Against Mumbai/ Maharashtra
       
      It Is Fraud On People Who Pay For Everything, New Plants, O&M, Exorbitant Bill Of Contractors, Depreciation, Rent On Buildings and Interest On Working Capital Allow Huge Profits & Robberies Of TATA- But Don’t Own Anything. There Is Total Mismanagement & Total Fraud In Tata Business.
       
      But his worst was reserved for Mumbai consumers where his elders lived for 5-6 generations. The following clippings are taken from MERC order 12/2005 and 56/2005 of October03, 2006.
       
      TPC 100 MW Diesel Generator For Mumbai
       
      People of Mumbai will be shocked to discover that TPC has installed a Diesel Generator of 100 MW that consumes fuel at a rate of Rs.5.60 per unit. Even worse than that Tatas had not retired 42 years old oil fired unit 4 that costliest electricity and people of Mumbai are “Extorted To Pay” the bills raised by TPC. [Subheads 2.1 and 2.3]
       
      Very High Fuel Cost Of Generation
       
      Fuel Cost in Rs.crores and Variable cost in Rupees/unit- 447 MW Hydro units 1,2 & 3 didn’t consume any fuels so not included in the table.
       
      Generator
      Capacity
      Generation
      Avail-ty
      F. Cost
      Load
      V Cost
      Unit 4 Oil
      150MW
      642 MU
      99%
      278 Cr
      49%
      4.72
      Unit 5 Coal
      500MW
      3758 MU
      99%
      568 Cr
      86%
      1.59
      Unit 6 Oil
      500MW
      3454 MU
      93%
      1280Cr
      79%
      3.83
      Unit 7 Gas
      180MW
      1331 MU
      97%
      95Cr
      84%
      0.73
      Total
      1330MW
      9185 MU
       
      2221Cr
       
      2.53
       
      When in USA coal power stations procured coal at $21/t at pitheads and $31/t delivered to power plants that translates to Rs.0.45/unit to Rs.0.67/unit fuel cost per unit Tata Power was as high as seven times for Unit 4, 5 times for unit 6 and three times for unit5, let me you Tata was serving 10 million slum dwellers of Mumbai also thanks to the “Whistleblower” it was discovered Tatas were paying $12 per tone (Rs.531/tone) just to unload coal freight.
       
      Whistle Blower and insider Captain N.B. Jamnerkar completely shredded the reputation of Tatas by western standards in thorough stripping of Tatas so called “Value System”. This Fraud alone is Rs.106 crores for handling 2 million tones of coal annually out of Rs.568 Crores coal procured for unit 5. This alone would have reduced Unit 5 variable cost by Rs.0.28 to Rs.1.31/ unit. This inventor will like point out that Coal could have been transferred on conveyors at practically no cost. In mining areas ores are handled in cable cars that very efficient Tatas can’t deny knowledge but even greater indictment is that Tatas owned a company Tata Robin Fraser that provided Coal Handling equipment to power stations.
       

      Contract Frauds Rs.100 Crores/ Year and Rs.10 Crores/Year For Decades

       
      Tatas were in fact enriching their kin M/s M. Pallonji & Co. Pvt. Ltd. (MPCPL).by at least Rs.100 crores/year Tatas didn’t built is own jetty for four decades for that reason- and now Tatas have proposed to install its own jetty but charging Rs.127 to consumers. This unit 5 coal based project must have provided for Jetty in original proposal and funds secured but to favor Tatas kin jetty was abandoned and money going in to Tata pockets.
       
      In painting works of Rs.25 crores per year fraud is obvious. Even if we assume paint used is worth Rs.15 crores annually, at Rs.100/liter it will be 1.5 million liters. Each liter could spread to 5 sq. meters therefore covered area by annual painting could be 7.5 million square meter or 7.5 square kilometer which is most unlikely. I doubt all area was painted every year.
       
      Rs.1000 Crores Project Charged To Consumers
       
      After plundering for 80 years charging huge profits, depreciation and regular high cost capital expenditure there is no “Capacity Addition In Recent Year”. This year to install a new unit of 250MW it has proposed to Charge Rs.1000 crores in ARR from Mumbai consumers.
       

      Standby Charge Fraud Rs.396 Crores Stand By Charges

       
      This even more serious fraud considering Tatas went to High Court and Supreme Court repeatedly. The Millowners’ Association observed that TPC is paying Rs. 396 Crore as standby charges, while the receipt on this account from REL is Rs. 91 Crore only.
       
      As can be seen from the table above lowest cost units were operated at full potential considering there is 447 MW hydro balancing reserve and operated at full potential. Oil based unit 4 and 6 can’t be considered for standby in view of high cost there is no justification for any stand by charges.
       
      2.34 ENERGY BALANCE  1203 MU 13% Gap In Generation and Dispatch
       
      REL submitted that the energy balance for FY 2006-07 projected by TPC in its ARR needs to be reviewed on the following aspects:.
       
      Net generation of TPC is considered as 9432 MU as against generation of 10635 MU in FY06 i.e. 1203 MU short.
       
      Generator
      Capacity
      Generation
      Auxiliary
      MU
      Hydro1,2,3
      447 MW
      2024
      0.5%
      10 MU
      Unit 4 Oil
      150MW
      642 MU
      8%
      51MU
      Unit 5 Coal
      500MW
      3758 MU
      5.5%
      207 MU
      Unit 6 Oil
      500MW
      3454 MU
      3.5%
      121MU
      Unit 7 Gas
      180MW
      1331 MU
      2.75%
      37MU
      Total
      1330MW
      9185 MU
       
      426MU
       
      I have on computing the approved auxiliary consumption approved to be 426 MU but gap in generation and dispatch is 1203 MU and difference of 777 MU. On page 77 MERC has given table of auxiliary consumption, which is less than approved in my calculations. Therefore 777 is BOGUS GENERATION valued at average Rs. 5/- unit to be Rs. 390 Crores Fraud.
       
      Transmission Fraud ; 25 MU Worth Rs.10 Crores
       
      TATA has Electricity Trading Company. It seems all the losses in transmission have been charged to Mumbai consumers. 
       
      2.41 HIGH TRANSMISSION LOSS
      REL submitted that the 200 MW of power sourced from PTC is shown to be reduced to 165 MW in the TPC’s ARR Petition.
       
      TPC’s Response
      TPC clarified that the transmission losses is due to utilisation of network of other licensees for availing this power, i.e., KPTCL (4%), Southern Region (4.5%), Western Region (4%), and MSETCL (5%) and the total transmission losses works out to 17.5%.
       
       

      Working Capital Fraud Rs.74 crores/ year

       
      When the company is making substantial profits and charging security deposit and six months advance payment most of the capital equipment is provided on credit or against delivery there is no justification for interest on working capital.
       
      4.10 INTEREST ON WORKING CAPITAL
      TPC, in its Petition, submitted that the Working Capital has been calculated in accordance with the Commission’s Tariff Regulations, which stipulate the components of working capital of a generating station. TPC further submitted that the normative interest rate of 10.25% has been considered for estimating interest on working capital. TPC has projected total interest on working capital of Rs 80.52 Crore for thermal station and Rs 4.40 Crore for hydel stations. (Rs.74.67 crores approved)
       
      2.12 COST OF BUND FOR CONDENSER COOLING – Rs.10 Crore/yr Fraud
      Captain Jamnerkar submitted that TPC has shown an expense of Rs. 12 Crore for making Bund for condenser cooling discharge water as per MPCB’s requirement, which should not have been more than Rs. 2 Crore.
       
      As an inventor I may add weight to Captain Jamnerkar submission that sand may go up in channel to say 500 meters or even 1 kilometer but not 20 miles therefore definitely a Rs.10 Crore annual fraud. Cost of keeping first kilometer of channel could be Rs.2 crores I don’t challenge it.
       

      Rs.208 Crores Hydro Projects To Yield 22.39MU/ Year

       
      In the following you can see the capital expenditure of Rs.208 Crores is projected to create additional generation of 22.39 MU annually or about Rs.6.4 crores at aver

      (Message over 64 KB, truncated)
    Your message has been successfully submitted and would be delivered to recipients shortly.