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Board of REC approves incorporation of five project specific subsidiaries

Capital Market 

At meeting held on 08 February 2019

The Board of REC at its meeting held 08 February 2019, inter-alia approved the proposal for incorporation of five project specific Special Purpose Vehicles (SPVs), as wholly owned subsidiary Companies of REC Transmission Projects Company for construction of projects.

The companies to be incorporated will also be a subsidiary companies of REC, in terms of the provisions of Section 2(87) of the Companies Act, 2013.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, February 08 2019. 18:30 IST