Power Finance Corporation (PFC) has announced the dissolution of its wholly owned subsidiary, Sakhigopal Integrated Power Company Limited (SIPCL), effective from 9 March 2026. The decision follows the approval from the Ministry of Power and subsequent filing with the Ministry of Corporate Affairs.
SIPCL, which was not considered a material subsidiary of PFC, was originally incorporated on 21 May 2008 as a Special Purpose Vehicle to establish a 4000 MW Ultra Mega Power Project in Odisha. However, the project was eventually shelved, leading to the decision to strike off the subsidiary.
The Ministry of Power granted approval for the closure of SIPCL on 27 November 2025, and the necessary documentation was filed shortly thereafter. The registrar of companies officially struck off SIPCL under section 248 of the Companies Act 2013.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).