Neyveli Lignite Corporation Limited has outstandings from the state electricity boards to the tune of Rs 2,374 crore as of March 2003.
Tamil Nadu leads the list with an outstanding of Rs1,467 crore, followed by Karnataka (Rs 399 crore), Andhra Pradesh (Rs348 crore) and Kerala (Rs159 crore).
S Jayaraman, the NLC chairman and managing director, said the corporation would soon receive bonds worth Rs 2,003 crore from the state governments, with a tax-free coupon rate of 8.5 per cent in lieu of the old outstandings.