REC Limited incorporates new subsidiary company

New Delhi: REC Limited announed the incorporatation of its new Wholly Owned Subsidiary. In furtherance to the letter dated September 30, 2024 states that Rajasthan V Power Transmission Limited (CIN: U42202DLZ024G0I438159) has been incorporated as Wholly Owned Subsidiary of REC Power Development & Consultancy Limited ("RECPDCL") (a Wholly Owned Subsidiary of REC Limited). The said company is also subsidiary company of REC Limited, in terms of the provisions of Section 2(8 7) of the Companies Act, 2013.
 

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Rajasthan V Power Transmission Limited: REC's Subsidiary

Rajasthan V Power Transmission Limited has the Authorized Capital: Rs 5,00,000, Paid up Capital: Rs 5,00 000. Turnover: Not Applicable (It is a newly corporated Company and is yet to commence its business.

Ministry of Power, vide gazette notification dated August 30, 2024 had allocated one transmission project, wherein RECPDCL has been appointed to act as Bid Process Coordinator (BPC) for the purpose of selection of Bidder for Transmission system for evacuation of power from Rajasthan REZ Ph-V (Part-I: 4 GW) [Sirohi/ Naga ur] Complex. In view of the above, Rajasthan V Power Transmission Limited has been incorporated on October 25, 2024. After selection of the successful bidder in accordance with the Tariff Based Competitive Bidding (TBCB) guidelines, said company would be transferred to the successful bidder along with all assets & liabilities. 

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