Adani Power Will Merge Six Wholly-owned Subsidiaries With Itself

Adani Power will merge Its six wholly-owned subsidiaries with itself. These six companies will merge with Adani Power, the board has approved.

Adani Power on Tuesday said its board of directors has approved an amalgamation plan for the merger of six of its wholly-owned subsidiaries with itself.

“The Board of Directors of Adani Power Limited in its meeting held on 22nd March 2022 approved the scheme of amalgamation of various wholly owned subsidiaries of the company subject to necessary approvals/consents,” the BSE filing said.

As per the filing, the subsidiaries to be merged with Adani Power are Adani Power Maharashtra Ltd., Adani Power Rajasthan Ltd., Adani Power (Mundra) Ltd., Udupi Power Corporation Ltd., Raipur Energen Ltd., and Raigad Energy Generation Ltd.

These companies are wholly owned subsidiaries of Adani Power.

The due date of the scheme will be October 1, 2021. The entire assets and liabilities of these six branches will be transferred to Adani Power.

It is stated that there will be no change in the equity shareholding pattern of the company under the scheme, as no shares are being issued by the firm in connection with the scheme.

The six branches of Adani Power are also engaged in the business of power generation and sale.

India has achieved the target of exporting goods worth $ 400 billion for the first time: PM Modi

India has achieved the target of exporting goods worth 400 billion dollars. The government had set this target for the ongoing financial year, which has been achieved.

Prime Minister Narendra Modi has given this information by tweeting. PM Modi wrote, “India has achieved the goods export target of $400 billion for the first time.

I congratulate our farmers, weavers, MSMEs, manufacturers, exporters for this success. This is a milestone in our journey towards self-reliant India.” An important milestone.”

Significantly, earlier in the month of March, Commerce and Industry Minister Piyush Goyal had expressed hope that the country’s exports could reach $ 410 billion in the current financial year 2021-22.

He had said in the annual session of ASSOCHAM that this export figure can be achieved in this financial year despite geopolitical difficulties.