Adani Power’s  request to transfer Mundra TPP to subsdiary deferred

The Board of Approval for SEZ has deferred Adani Power Limited’s request to transfer its 4,620 MW Mundra thermal power plant in Gujarat to its subsidiary Adani Power (Mundra) Limited. The board has sought a no-objection certificate from the project’s lenders to consider the proposal. It observed that the proposed transfer of the plant was being done without the transfer of its liability or debt and therefore deferred the decision. The board’s approval is required for the transaction as the TPP is located in an SEZ.

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