C R E S

TERMS AND CONDITIONS

The advance under the scheme will be accepted against a specific L.T. consumer, though the payer making the advance may not necessarily be the consumer himself/herself. However, against one Consumer No., there can be a single CRES A/c; and in the event of multiple applications for the same Consumer No., application at the sole discretion of Company will be accepted. Advances will be accepted from resident individuals, groups of persons, domestic companies and others but will not be accepted from or on behalf of foreign nationals and minors. No application will be entertained in case bill adjustment in respect of the consumer for whom the amount was advanced could not be acted upon for any reason whatsoever.

There is no maximum limit at present.

Applicants need to attach the photocopy of an electricity bill (bill month not earlier than 2 months from the date of application), in respect of the consumer number for which the application has been made, to the application form at the time of submitting the same and making the payment.

If any CRES account has unadjusted balance, additions can be made only by the person who has made the initial advance. Additions, together with the unadjusted balance should be within the limits specified above; however, each addition to CRES will be accepted subject to a minimum of Rs. 3000/- and in multiples of Rs.1000/- thereafter.

Completed applications for advances under CRES together with cheque/demand draft/cash, can be submitted at the collection centers mentioned overleaf.

 For all applications, an acknowledgement would be given across the counter at the collection centres without checking the details mentioned therein. Cheques/Drafts crossed "A/c Payee Only" should be made payable to "CESC LIMITED-CRES" A/c and must be drawn on a scheduled bank in Kolkata. In case of payment by demand draft the charges/commission on the draft will be borne by the payer making the advance. Cash advance may be accepted only at certain bank collection centres up to a maximum limit of Rs. 19,000/-.

Unadjusted advance payments under CRES will carry an interest rate of 9.5% p.a. from the date of credit of funds to CESC account. The interest, after deduction of income tax, as applicable, will accrue monthly - on the first day of every subsequent month - and will be credited to the CRES account for adjustment against the bills falling due during the month. 

In case of final adjustment, interest from first day of the month unto the bill due date will be remitted separately and will not be eligible for adjustment against electricity bill. 

In case at any point of time bill adjustment cannot be effected for any reason whatsoever like court order, etc., the payer will be intimated and the accrual of interest will cease from the date of such restriction.

 In case any restriction is imposed by any authority either on the payer or on the consumer, the bill adjustment will remain suspended till withdrawal of such restriction and the payer will be intimated within 15 days from the date of such information and accrual of interest will cease from the date of such restriction till the date of withdrawal of the same. 

A minimum balance of Rs. 100/- is to be maintained in the account for eligibility of interest and bill adjustment. If the balance fails below Rs. 100/- then the balance in the account will be paid back by cheque and the account will be closed.

Electricity bills sent to consumers will indicate the amount to be adjusted from CRES account on the due date and balance amount in the CRES account before such adjustment. 

Quarterly statements will be mailed to the payer at the address mentioned in the application form, showing the particulars of the operation in the CRES account.

Amount advanced will be adjusted against the future electricity bills in respect of the consumer number specified in the application. No refund will be entertained in the normal course. Refund of unadjusted amount will be made in due course if the consumer for whom the advance was made ceases to be a consumer. The payer will be intimated within one month from the date of cessation of a consumer, in whose favour adjustments were made, to apply for refund, if any, within a period of one month thereafter. Accrual of interest will cease from the date of expiry of such period. Premature withdrawal for any other reason may be allowed by the Company solely at its discretion.

Nomination facility is available for individual payers only(excepting in favour of minors). For this purpose the individual payer will have to fill in the nomination particulars contained in the Application Form. The nominee would receive the unadjusted amount and interest due thereon in case of death of the payer on production of relevant death certificate, without reference to the heir(s) and/or legal representatives) of the deceased and the Company shall be absolved of its liability on such payment to the nominee. In case the Nomination particulars is not duly filled in, then the unadjusted advance together with interest due thereon will be paid to the heir(s) and/or legal representatives) of the deceased individual payer on production of necessary documents, viz., grant of probate of the will, succession certificate or letter of administration from a Court of competent jurisdiction.

1 . The Company reserves the right to reject any application without assigning any reason therefore. In case of rejection, the amount advanced would be refunded by the Company without any interest thereon within 15 days from the date of credit of funds to CESC account. 

2. Income tax where applicable will be deducted at source from interest as per the provisions of the Income Tax Act, 1961, except where appropriate certificateldocument as prescribed under the Income Tax Act, 1961, is furnished by the payer in respect of each financial year (i.e. 'for the period of 1st April to 31st March') to the Company. The Company will issue tax deduction certificates to the payer as per the provisions of the Income Tax Act, 1961. It is now mandatory to quote the Permanent Account Number (PAN) of the Payee in the tax deduction certificate, where tax is deductible at source. Those persons whose interest income under the CRES Account is likely to exceed the prescribed lirnit are advised in their own interest to furnish their PAN to Tata Consultancy Services at the address given below, failing which the Company will not be responsible for any delay in receipt of the tax deduction certificate by the applicant andlor non-acceptance of the tax deduction certificate by the Income Tax authorities due to absence of the  applicant's PAN therein. 

3. In case of advance being made by any person other than individuals, the application must be signed by the authorised signatory(ies).

 4. The Company reserves the right to alter or amend any or all of the terms and conditions as stipulated above, at any point of time, without assigning any reason therefore, provided that it is not prejudicial or disadvantageous to the payer. 

5. In no event the payer (who is not a consumer) would be entitled to any right which as such is enjoyed by a consumer. Rights and obligations of the consumers in case of advance payment also will be solely governed by the Conditions of Supply of the Company and the applicable statutory provisions.

ALL CORRESPONDENCE IN CONNECTION WITH CRES QUOTING RELEVANT CRES NUMBER AND/OR

 APPLICATION FORM NO. SHOULD BE ADDRESSED TO: 

TATA CONSULTANCY SERVICES 

SDF Building, Third Floor

 Salt Lake Electronics Complex

 Block EP & GP, Sector - V,

 Bidhan Nagar, Kolkata 700 091

 Telephone No. : 033-23339708

 E mail : kolkata.cesccres@tcs.com