Power Finance Corporation transfers subsidiary to Kalpataru Power

Power Finance Corporation Limited has said that its wholly owned subsidiary, PFC Consulting Limited has transferred Kohima-Mariani Transmission Limited, its wholly owned subsidiary Company established for development of Independent Transmission Project ‘North Eastern Region Strengthening Scheme (NERSS-VI)' to M/s Kalpataru Power Transmission Limited on March 31, 2017. PFC presently has nine subsidiary companies.

PFC Consulting Ltd. (PFCCL) is a wholly owned subsidiary handling fee based services. The six other companies, namely Coastal Karnataka Power Limited, Coastal Tamil Nadu Power Limited, Coastal Maharashtra Power Limited, Orissa Integrated Power Limited, Jharkhand Integrated Power Limited and Akaltara Power Limited, are SPVs (Shell Companies) created for implementing the Ultra Mega Power Projects. Meanwhile, shares of the company were trading at Rs 156 apiece, up 1.20 per cent from the previous close at 09:38 hours on BSE.

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