India, March 25 -- At a time when the Brihamumbai Electricity Supply and Transport (BEST) undertaking is reeling under accumulated losses exceeding Rs.10,000 crore, it is undervaluing its own assets, according to its newly elected committee members.

The undertaking's administration has allegedly been charging between half and one-fifth the prevailing market rates to rent commercial spaces at as many as 19 locations across Mumbai, according to bid documents presented to the BEST Committee for approval. Copies of these documents are with Hindustan Times. These locations include depots, bus stations, railway stations, busy market roads, residential quarters, and office spaces.

For instance, in Colaba, where BEST has its headquarters, the a...