Joint Venture26 Feb 2026, 10:42 pm
REC Ltd Transfers Entire Shareholding of Umred Power Transmission Limited to Successful Bidder
AI Summary
REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of REC Limited, has transferred the entire shareholding of Umred Power Transmission Limited to the successful bidder selected through a tariff based competitive bidding process. The transfer took place on February 26, 2026, and includes all assets and liabilities of the SPV. The consideration for the sale and transfer is determined in accordance with the Guidelines issued by the Ministry of Power, Government of India. This transaction does not fall under related party transactions and is not a slump sale.
Key Highlights
- REC Ltd transfers shareholding of Umred Power Transmission Limited to successful bidder
- Transfer includes all assets and liabilities of the SPV
- Transaction amount is 22,34,28,481/- inclusive of professional fee, reimbursement of expenses and taxes
- Transaction does not fall under related party transactions
- Consideration determined in accordance with Ministry of Power Guidelines