Power Finance Corporation has informed that PFC Projects (PPL), a wholly owned subsidiary of Power Finance Corporation Limited (PFC), has been struck off by the Registrar of Companies (RoC) with effect f from June I, 2026, under Section 248 of the Companies Act, 2013. PFC Projects (PPL), formerly known as Coastal Karnataka Power Limited, was established as a wholly owned subsidiary of PFC for the development of an Ultra Mega Power Project in Karnataka. In 2022, the name and object clause of the company were amended to enable its participation in Lenders-backed Resolution Plans (LbRPs). However, in the absence of approval from the Depa1tment of Investment and Public Asset Management (DIPAM), no future business opportunities were expected for the company. Accordingly, the Board of Directors of PPL approved the proposal for striking off the company's name from the Register of Companies, subject to the requisite approvals and settlement of all liabilities. The Ministry of Power, Government of India, accorded its approval for the closure and striking off of the company on March 13, 2026. Thereafter, the necessary documents were filed with the Ministry of Corporate Affairs (MCA) for the closure/striking off process, which was subsequently approved by the MCA on June 1, 2026.
The above information is a part of company’s filings submitted to BSE.
