Adani Power has received an approval from its shareholders to hive off its flagship Mundra power station to its subsidiary. The proposed resolution approving the scheme (the Scheme of Arrangement between Adani Power and Adani Power (Mundra) was passed with the requisite majority by equity shareholders of the company on September 21, 2017.
Earlier in June, the company’s board had approved a proposal to hive off its flagship Mundra power station to its subsidiary so that it can focus on investment and power generation separately.
Adani Power is engaged in the business of generation, accumulation, distribution and supply of power and to generally deal in electricity and to explore, develop, generate, accumulate, supply and distribute or to deal in other forms of energy from any source whatsoever.
