Team News Riveting
New Delhi, October 6
REC Limited has incorporated the wholly owned subsidiaries namely ‘Khavda IV C Power Transmission Limited’ and ‘Khavda IV – E2 Power Transmission Limited.
“This is to inform that Khavda IV C Power Transmission Limited and Khavda IV-E2 Power Transmission Limited have been incorporated as wholly owned subsidiary of REC Power Development and Consultancy Limited (a wholly owned subsidiary of REC Limited),” REC Limited said in a regulatory filing.
The said companies are also subsidiary company of REC Limited, in terms of the provisions of Section 2(87) of the Companies Act, 2013, the company said.
REC Power Development and Consultancy Limited (RECPDCL) inter-alia acted as the “Bid Process Coordinator” for selection of Transmission Service Provider through Tariff Based Competitive Bidding (TBCB) process, for independent inter-state and intrastate transmission project assigned by the Ministry of Power and State Governments from time to time.
After selection of successful bidder in accordance with the TBCB guidelines, said companies would be transferred to the successful bidder along with all assets and liabilities.
