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The board of directors of Adani Power on Tuesday approved the transfer of its Mundra (Kutch) power plant to a separate subsidiary, Adani Power (Mundra) Ltd, through a slump sale (slump sale is a transfer of a whole or part of business concern as a going concern).
“The company’s board has considered and approved the slump sale of its Mundra power business undertaking, generating 4,620 Mw of power, to its subsidiary company, namely Adani Power (Mundra),” Adani Power said in a statement.
The Mundra plant has been a drag on Adani Power’s performance for the past few years due to
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