NHPC Limited has received a significant boost as the Ministry of Corporate Affairs (MCA) sanctioned the amalgamation of Lanco Teesta Hydro Power Limited with NHPC. The approval marks a major milestone in NHPC’s growth strategy, aligning with its vision of expanding hydropower operations and streamlining organizational efficiency.
Key Details of the Merger:
- Sanction Date: January 2, 2025.
- Effective Date: The scheme will come into effect post-filing with the Registrar of Companies.
- Transferor Company: Lanco Teesta Hydro Power Limited, a wholly owned subsidiary of NHPC since 2019, was incorporated in 2000 under the Companies Act.
- Transferee Company: NHPC Limited, incorporated in 1975, is a government-owned enterprise and India’s leading hydropower company.
Implications of the Merger:
- Operational Integration: All properties, liabilities, and operations of Lanco Teesta Hydro Power Limited will seamlessly transfer to NHPC.
- Employee Welfare: Employees of the transferor company will join NHPC with continuity of service, ensuring no disruption in benefits.
- Financial Structuring: The merger aligns with Indian Accounting Standards and ensures the cancellation of Lanco Teesta’s shareholding in NHPC.
- Efficiency Boost: By consolidating operations, NHPC aims to enhance productivity and achieve economies of scale.
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NHPC