With reference to the earlier announcement dated December 20, 2010, Rural Electrification Corporation Ltd has now informed BSE that after approval of the Ministry of Power, 50,000 Equity Shares of Raichur Sholapur Transmission Company Ltd. (RSTCL), which were held by REC Transmission Projects Company Ltd. (RECTPCL) (a wholly owned subsidiary Company of REC) and its nominees, were transferred along with all assets and liabilities of the Company (RSTCL) to a Consortium of M/s. Patel Engineering Ltd, M/s. Simplex Infrastructure Ltd. & M/s. BS TransComm Ltd. and their nominees, substantially upon the terms & conditions as detailed in the Share Purchase Agreement executed between RECTPCL, RSTCL and the Consortium led by M/s. Patel Engineering Ltd. for establishment of Transmission System Associate with Krishnapattnam UMPP-Synchronous interconnection between SR and WR (Part-B) Raichui-Sholapur 765 kV S/C line-I".
RECTPCL has received an acquisition price of Rs. 18,88,51,696/- from Consortium towards acquisition of RSTCL along with its all assets and liabilities.Read More
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