Porwal Auto Components Ltd Amends MOA & AOA for Captive Power Generation
Porwal Auto Components Ltd has amended its Memorandum of Association (MOA) and Articles of Association (AOA) in its Annual General Meeting to include enabling provisions for generation and consumption of electricity for captive use. This move is in compliance with the Electricity Act, 2003, and Madhya Pradesh Electricity Regulatory Commission Captive Generating Plants verification Regulations G-45 of 2023 and amendments, guidelines issued by the Government of Madhya Pradesh and other relevant authorities governing captive power generation. The amendments will allow the company to generate, produce, refine, improve, buy, sell, acquire, use, transmit, distribute, and accumulate power or electricity from renewable and other conventional/non-conventional energy sources for captive consumption.
Key Highlights
- Porwal Auto Components Ltd has amended its MOA and AOA for captive power generation.
- The amendments are in compliance with the Electricity Act, 2003, and Madhya Pradesh Electricity Regulatory Commission Captive Generating Plants verification Regulations G-45 of 2023 and amendments.
- The company will now be able to generate, produce, refine, improve, buy, sell, acquire, use, transmit, distribute, and accumulate power or electricity from renewable and other conventional/non-conventional energy sources for captive consumption.
- The new provisions will allow the company to engage in research, consultancy, and development of methods for energy efficiency, energy conservation, and improved productivity.