REC Ltd has appointed Smt. Poonam Chauhan as a Non-Official Independent Director on its Board for a period of three years. The appointment is effective from July 20, 2026, the date of the notification, or until further orders, whichever is earlier. This decision follows an order issued by the Ministry of Power, Government of India, bearing Order No. 46/2/2010-RE(Vol.III) (Part-4)(Part-1).

The company is currently in the process of completing the requisite statutory formalities associated with this appointment. REC Limited stated that further details, in compliance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, will be filed separately with the exchanges.

Appointment Details

The following table summarizes the key details of the appointment:

The notification regarding this appointment was submitted to the exchanges by Dinesh Garg, Company Secretary & Compliance Officer of REC Limited.

REC Ltd has incorporated a new wholly owned subsidiary, Kesurdi Power Transmission Limited, to facilitate the establishment of a 220 kV Gas Insulated Switchgear (GIS) project in Kesurdi, Satara. The incorporation, effective July 14, 2026, follows a Gazette Notification dated February 27, 2026, from the Government of Maharashtra which allocated the intra-state transmission project. REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of REC Ltd, was appointed as the Bid Process Coordinator (BPC) for this initiative.

Kesurdi Power Transmission Limited has been incorporated with an authorized capital and paid-up capital of ₹5,00,000. As a newly incorporated entity, the company has yet to commence business operations, and its turnover is currently not applicable. The subsidiary falls under the power sector and is classified as a related party of REC Ltd due to its ownership structure, though the promoter group holds no interest beyond the shareholding.

The primary objective of the acquisition is to execute the establishment of the 220 kV GIS Kesurdi project. The incorporation was pursued pursuant to the Maharashtra government's notification, which nominated RECPDCL to act as the BPC for selecting a Transmission Service Provider through the Tariff Based Competitive Bidding (TBCB) guidelines.

The consideration for the acquisition involved a 100% subscription to the equity share capital in cash at face value. Consequently, REC Ltd, through RECPDCL, has acquired 100% shareholding and control over the new entity. RECPDCL functions as the BPC for selecting transmission service providers for independent inter-state and intra-state transmission projects assigned by the Ministry of Power and various State Governments.

Following the selection of the successful bidder under the TBCB guidelines, Kesurdi Power Transmission Limited is slated to be transferred to the successful bidder along with all its assets and liabilities. The intimation was made to the exchanges pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Details of Kesurdi Power Transmission Limited