Amalgamation scheme: Tata Power shareholders’ meet on 19 February
New Delhi: Tata Power on Wednesday said it will convene shareholders’ meeting on 19 February to seek approval for the proposed amalgamation of four group entities with the company.
“The transferor company (Tata Power) is desirous to transfer the renewable energy units to the transferee company 1 (Tata Power Renewable Energy Ltd) Transferee Company 4 (Tata Power Green Energy Ltd) and two wholly owned subsidiaries of the transferee Company No 1 (Tata Power Renewable Energy Ltd) i.e., transferee company 2 (Supa Windfarm Ltd) and transferee company 3 (Nivade Windfarm Ltd) respectively,” Tata Power said.
Tata Power has renewable energy units in the state of Maharashtra, Gujarat, Karnataka, Tamil Nadu and West Bengal. Tata Power Renewable Energy Ltd and Tata Power Green Energy are wholly owned arms of Tata Power.
In a filing to the BSE, the power firm said that the meeting of the equity shareholders of the Tata Power is convened pursuant to the directions of the National Company Law Tribunal (NCLT) with regard to amalgamation.
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