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REC Board approves amalgamation of wholly-owned subsidiaries

Friday, 07 Aug 2020
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The Board of Directors of REC has approved the revised scheme of amalgamation of REC Transmission Projects Company with REC Power Distribution Company, wholly-owned subsidiaries of REC, subject to requisite approvals. 
 
In order to align the Objects Clause of Memorandum of Association of REC as per requirement of the Companies Act 2013 and with a view to enable the company to tap emerging business opportunities in the power sector and explore business potential in new areas of business, the Board of Directors approved the amendments in the Objects Clause of Memorandum of Association of REC, subject to approval of shareholders and such other approvals, permissions and sanctions as may be required.

 

 
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