Thursday, 14 November 2019

NHPC takes over Lanco Teesta Hydro Power Limited

Updated: October 19, 2019 11:48 am

NHPC Limited, India’s premier hydropower company, has completed the formalities for the takeover of the 500 MW (125 MW x 4) Teesta VI HEP on Teesta River by remitting the resolution plan consideration of Rs.897.50 Crore to the account of Lanco Teesta Hydro Power Limited for distribution to all the creditors as per the Approved Resolution Plan.  A. K. Singh, Executive Director (PMSG) on behalf of NHPC as the Chairman of the Taking Over Committee in the august presence of Balraj Joshi, Chairman & Managing Director, NHPC and other functional Directors, completed the takeover from the Resolution Professional, of Lanco Teesta Hydro Power Limited, Shri Huzefa Fakhri Sitabkhan at New Delhi on 9th October 2019. The Reconstituted Board of Directors of Lanco Teesta Hydro Power Limited consisting of Ratish Kumar, Director (Projects), D. Chattopadhyay, Executive Director – Regional Office, Siliguri,  Vijay Kumar, Executive Director (Finance) and Dr. Kamla Fartyal, Chief General Manager (Medical Services) as nominees of NHPC held a meeting to discuss on the way forward for the Company. Lanco Teesta Hydro Power Limited is now a wholly owned subsidiary of NHPC Limited.

 

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