REC clarifies media reports regarding the risk of Kaleshwaram Irrigation Project Corporation Limited (KIPCL) and Telangana Water Resources Infrastructure Development Corporation (TSWRIDC) loans being classified as NPAs.
The company confirms that both utilities have cleared their critical over-dues as of June 30, 2025.
There are currently no critical dues from KIPCL and TSWRIDC.
Both loans are secured and backed by a State Government Guarantee.
REC states that as of date, no loan assets are expected to become fresh NPAs due to outstanding dues.
Jalna Power Transmission Limited (JPTL) has been incorporated on 29 June 2025 as a Wholly Owned Subsidiary (WOS) of REC Power Development and Consultancy Limited (RECPDCL), which is itself a WOS of REC Limited. Consequently, JPTL is also a subsidiary of REC Limited.
The new company has an Authorized Capital and Paid-up Capital of ₹5,00,000 each.
JPTL was incorporated to establish a 400/132 kV intra-state transmission project in Jalna (Dist. Jalna), as per an order from the Government of Maharashtra dated 9 April 2025.
RECPDCL was appointed as the Bid Process Coordinator (BPC) for the selection of a bidder for this project.
After the selection of a successful bidder through the Tariff Based Competitive Bidding (TBCB) guidelines, JPTL, along with all its assets and liabilities, will be transferred to the selected bidder.
JPTL is considered a related party of REC Limited due to its subsidiary status.
REC Limited informs about the incorporation of Davanagere Power Transmission Limited as a Wholly Owned Subsidiary of REC Power Development and Consultancy Limited (RECPDCL).
Davanagere Power Transmission Limited was incorporated on June 26, 2025.
The authorized and paid-up capital is ₹5,00,000 each.
The company was incorporated pursuant to a Gazette Notification dated May 8, 2025, issued by the Central Electricity Authority, Ministry of Power, where RECPDCL was nominated as Bid Process Coordinator (BPC).
Davanagere Power Transmission Limited was incorporated for Transmission System strengthening at Davanagere for integration of RE Generation.
After selection of the successful bidder, the company will be transferred to the successful bidder along with all assets & liabilities.
REC Limited announced that Rajgarh Neemuch Power Transmission Limited has been incorporated as a Wholly Owned Subsidiary of REC Power Development and Consultancy Limited (RECPDCL), which is also a Wholly Owned Subsidiary of REC Limited.
Rajgarh Neemuch Power Transmission Limited was incorporated on June 17, 2025.
The company was incorporated for Transmission system for Evacuation of Power from RE Projects in Rajgarh (1,500 MW) SEZ in Madhya Pradesh-Phase III and Evacuation of Power from RE Projects in Neemuch (1,000 MW) SEZ in Madhya Pradesh-Phase II.
The authorized and paid-up capital of the subsidiary is ₹5,00,000 each.
REC Power Development and Consultancy Limited (RECPDCL) has been appointed to act as Bid Process Coordinator (BPC).
After selection of the successful bidder, the company would be transferred to the successful bidder along with all assets & liabilities.
REC Limited received a title certificate report for land bearing Sub-plot No. 8 of Final Plot No. 585 in Town Planning Scheme No. 2, admeasuring 999 sq.mtrs in Vadodara, Gujarat.
The land is owned by Vadodara Municipal Corporation, with usage and possession rights vested in REC Limited.
A legal scrutiny report from the Sub Registrar, Vadodara, for 30 years certifies that REC Limited has a valid title on the land.
The property is valued at ₹8,84,76,000 (Market Value), with a realizable sale value of ₹7,96,28,400 (90% of M.V).
The land is mortgaged and charged, with documents examined including bonds and mortgage deeds in favor of SBICAP Trustee Company Limited and IDBI Trusteeship Services Limited.
The lease is for 99 years from 24 March 1999, with a yearly ground rent of ₹1/sq.mtr.