Joint Venture29 Jul 2025, 01:04 pm
Power Finance Corporation Ltd Transfers Wholly Owned Subsidiary to H.G. Infra Engineering Limited
AI Summary
Power Finance Corporation Ltd (PFC), a Government of India Undertaking, has transferred its wholly owned subsidiary, Angul Sundargarh Transmission Limited, to H.G. Infra Engineering Limited, the successful bidder, on 28th July, 2025. The SPV was established for the development of 'Eastern Region Generation Scheme-I (ERGS-I)'. The consideration for sale & transfer of SPV is determined in accordance with the Guidelines issued by the Ministry of Power, Government of India. This transaction is not a slump sale and does not fall within the purview of related party transactions.
Key Highlights
- Power Finance Corporation Ltd transfers its wholly owned subsidiary, Angul Sundargarh Transmission Limited, to H.G. Infra Engineering Limited
- The SPV was established for the development of 'Eastern Region Generation Scheme-I (ERGS-I)'
- The transaction is not a slump sale
- The consideration for sale & transfer of SPV is determined in accordance with the Guidelines issued by the Ministry of Power, Government of India
- H.G. Infra Engineering Limited is not a part of the promoter or promoter group of PFC