Chandigarh, July 16 -- The Indian National Lok Dal (INLD) on Wednesday expressed shock at the financial contradictions embedded in the proposal of Eleven Power Private Limited, the 2025 incorporated company seeking a parallel electricity distribution licence in Gurugram and Nuh. Citing Hindustan Times news report of July 15, former state finance minister, Sampat Singh said the capital expenditure of Rs.4,717 crore proposed by Eleven Power to establish network in Gurugram and Nuh was way less than the state owned distribution utility, Dakshin Haryana Bijli Vitran Nigam's (DHBVN) assessment of Rs.11,397.95 crore, required for establishing distribution infrastructure in Gurugram and Nuh at current price levels over and above the working capital requirement, requiring equity investment of Rs.3,419.33 crore for putting entire network for meeting universal service obligation (USO). "DHBVN in its response to Haryana Electricity Regulatory Commission (HERC) has submitted that fulfilling the statutory USO under Section 43 of the Electricity Act requires an actual investment of Rs.11,397.75 crore. This assessment requires an equity commitment of Rs.3,419.33 crore. The private company has deliberately deflated the true network cost by over Rs.6,600 crore. To finance this venture, the company promises an equity contribution of Rs.1,415 crore against its actual paid-up share capital of Rs.1 crore. To bridge this massive chasm, it relies on a speculative market valuation of Rs.4,085 crore for its holding company, SAS Fininvest LLP, whose actual book value is a mere Rs.94.95 crore. This is a financial mirage, and even the HERC has questioned this glaring inconsistency. The public has a right to know who in the ruling BJP government is backing this corporate house of cards," the INLD leader said. Singh said Eleven Power did not have independent operational experience in electricity distribution, relying entirely on consortium partners who are not even petitioners in this matter. The company's phased rollout plan extending to FY 2030-31 intends to cater to a meagre 15.21% of the total projected demand, serving as a clear admission that it has neither the intent nor the capability to serve every consumer without discrimination, he said. "The real motive here is blatant corporate plunder through textbook cream-skimming. The company's business plan admits it expects only 2.5% of DHBVN's existing consumers to migrate while the rest will be lucrative new commercial and high-density industrial hubs situated near 220 kV grid substations. Gurugram alone contributes approximately 42% of DHBVN's total revenue. The private entity wants to siphon off premium revenue while leaving state owned utility burdened with servicing the heavily subsidised agricultural and rural consumers of Nuh,'' Singh said....