NHPC Limited announced that the Ministry of Corporate Affairs (MCA) has approved the Scheme of Amalgamation of its wholly-owned subsidiary, Lanco Teesta Hydro Power Limited, with NHPC Limited. The official MCA order was received on January 10, 2025, finalizing the merger process.
Key Highlights:
- Approval Details:
- The MCA issued its approval order on January 2, 2025.
- The amalgamation aligns with Sections 230-232 of the Companies Act, 2013.
- Background of the Merger:
- Lanco Teesta Hydro Power became NHPC’s wholly-owned subsidiary in October 2019 following a resolution plan approved under the Insolvency & Bankruptcy Code.
- The merger aims to streamline operations, optimize resources, and improve efficiency.
- NHPC Overview:
- Established in 1975, NHPC is a government enterprise under the Ministry of Power.
- It specializes in hydroelectric power projects and is a significant player in India’s renewable energy sector.
The merger will enhance NHPC’s operational efficiency and bolster its commitment to renewable energy growth.
TOPICS:
NHPC