Held on 09 November 2015
Rural Electrification Corporation announced that Board of Directors of the Company at its meeting held on 09 November 2015 approved the incorporation of three project specific special purpose vehicles (SPVs), as subsidiary companies of REC; sale & transfer of 50,000 equity shares each of Vemagiri II Transmission and Alipurduar Transmission, wholly owned subsidiary of RECTPCL to successful bidders Power Grid Corporation of India and Kalpataru Power Transmission; and Dissolution of two wholly owned subsidiaries of RECTPC (I.e. Nellore Transmission and Baira Siul Transmission) by Fast Track Exit Mode u/s 560 of the Companies Act, 1956.Powered by Capital Market - Live News