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| Exchange Received Time 20/06/2018 18:25:49 Exchange Disseminated Time 20/06/2018 18:25:55 Time Taken 00:00:06 | In compliance with the provisions of SEBI LODR Regulations, 2015, it is informed that the entire shareholding of RECTPCL, a wholly owned subsidiary of REC in Ghatampur Transmission Limited, comprising of 50,000 equity shares have been transferred along with all its assets and liabilities on June 19, 2018 to M/s Adani Transmission Limited, the successful bidder selected through Tariff Based Competitive Bidding Process, to establish Transmission System for evacuation of power from 3x660 MW Ghatampur Thermal Project.
Further,RECTPCL has received a consideration of Rs. 17.93 crore, comprising of Rs. 14.16 crore (including GST) towards Professional Fee for Bid Process Coordination, Rs. 0.05 crore towards cost of acquiring 50,000 equity shares and balance towards reimbursement of expenditure incurred on the project.
Hence, from now onwards, the above Project Specific SPV is not subsidiary of RECTPCL & REC.
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