JPVL to seek more inputs before transferring Bina plant

Jaiprakash Power Ventures Ltd (JPVL) today said its board has agreed to call for additional inputs before taking a decision to transfer its 500 MW Bina thermal plant in Madhya Pradesh to its subsidiary.
"The Board of Directors at its meeting held on June 17, 2016, considered the recommendations of the Committee of Directors /Audit Committee and agreed to call for additional inputs before taking the decision for the proposed transfer of company's Jaypee Bina Thermal Power Plant to its subsidiary company," Jaiprakash Power Ventures said in a filing to BSE.
Last year, the company had entered into a binding MoU with JSW Energy for sale of 100 per cent stake in its 500 MW Bina thermal power plant to JSW Energy.

There were reports that JSW Energy will buy the plant for Rs 3,500 crore. However, the company denied the reports and maintained that the price shall be subject to due diligence to be carried out by JSW Energy.