REC Ltd Subsidiary Musalgaon Power Transmission Limited Incorporated for Power Transmission Project

REC Ltd has incorporated a new wholly owned subsidiary, Musalgaon Power Transmission Limited, pursuant to an order from the Government of Maharashtra. The new company will be responsible for establishing a 220/132/33 kV AIS Musalgaon transmission project in the Nashik district. Musalgaon Power Transmission Limited is a related party of REC Limited, with RECPDCL acting as the Bid Process Coordinator (BPC) for the project. The new subsidiary has been incorporated with an authorized capital of INR 5,00,000 and a paid-up capital of INR 5,00,000. The acquisition is a cash transaction, with REC Ltd subscribing to 100% of the equity share capital.