In compliance with Regulation 30 of the SEBI (LODR) Regulations, 2015, this is to inform that the Board of Directors of REC in its 435th Meeting held on September 21, 2017, inter-alia approved the following :-
1. Incorporation of five Project Specific Special Purpose Vehicles (SPVs), as Wholly Owned Subsidiary Companies of REC Transmission Projects Company Limited (RECTPCL) for development of Intra-State Transmission lines of Jharkhand State. The companies to be incorporated will also be Subsidiary Companies of REC, in terms of the provisions of Section 2(87) of the Companies Act, 2013; and
2. Sale and transfer of entire shareholding of REC Transmission Projects Company Limited (a wholly owned subsidiary of REC) in ERSS XXI Transmission Limited, to M/s Power Grid Corporation of India Limited, the successful bidder selected through Tariff based Competitive Bidding for development of Inter-State Transmission Project viz. Eastern Region Strengthening Scheme -XXI.
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