Joint Venture2 Sept 2025, 07:37 pm
Bharat Heavy Electricals Ltd Announces Dissolution of Joint Venture Company PPIL
AI Summary
Bharat Heavy Electricals Ltd (BHEL) announced the dissolution of a Joint Venture Company, Powerplant Performance Improvement Pvt. Ltd. (PPIL), which was under liquidation. The National Company Law Tribunal (NCLT), New Delhi Bench, has declared PPIL dissolved w.e.f. the date of pronouncement of the order. The JV was formed between BHEL and Siemens AG Germany, and was involved in the marketing, sale, order execution, and performance of all activities relating to renovation, improvement, and modernization of fossil fuel-based power plants.
Key Highlights
- BHEL announces dissolution of Joint Venture Company PPIL.
- PPIL was under liquidation and was involved in the marketing, sale, order execution, and performance of all activities relating to renovation, improvement, and modernization of fossil fuel-based power plants.
- PPIL was a Joint Venture between BHEL and Siemens AG Germany.
- PPIL was dissolved as per the order of NCLT, New Delhi Bench.
- The dissolution is effective from the date of pronouncement of the NCLT order.