Excelsior Correspondent
JAMMU, Sept 20: The 10th Annual General Meeting (AGM) of Chenab Valley Power Projects Private Limited (CVPPPL), now a joint venture company of NHPC and JKSPDC which is entrusted with the implementation of four hydroelectric projects—Pakal Dul, Kiru, Kwar and Kirthai-II in Chenab basin, was held here today under the chairmanship of Suresh Kumar, chairman CVPPPL.
Annual account for the year 2020-21 was adopted in the meeting and shareholders approved implementation of Kirthai-II 930 MW HEP Project by CVPPPL and transfer of Dulhasti Stage-II to NHPC as per MoU signed on January 3, 2021 along with increase in Authorised Share Capital of the Company from Rs 3500 Crore to Rs 5200 Crore.
Shareholders took note of the change in shareholding pattern of CVPPPL from 49(NHPC) : 49(JKSPDC) : 2(PTC) to 51(NHPC) : 49(JKSPDC) and resolved that pursuant to applicable provisions of Section 2(87) of the Companies Act, 2013, CVPPPL has become a Subsidiary of NHPC, which is Government of India Enterprise, in which NHPC holds 51% shareholding and further consequential follow up action shall be taken by CVPPPL after receipt of signed Supplementary Promoters Agreement between NHPC and JKSPDC.
The AGM was attended by Board members R.P Goyal, Director (Finance) NHPC; Y.K Choubey, Director (Technical) NHPC and A.K Choudhary, MD CVPPPL along with K.K Goel, ED (Finance) & S. Anand, Company Secretary besides Raj K. Mehra, Statutory Auditors through video conferencing.
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