REC Ltd - 532955 - Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
We are enclosing herewith the certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 as received from Registrar and Transfer Agent of the Company i.e. KFin Technologies Limited (Formerly KFin Technologies Private Limited) for the quarter ended September 30, 2022 in compliance of provisions of aforesaid Regulation. REC Ltd - 532955 - Sale And Transfer Of ER-NER Transmission Limited, Wholly Owned Subsidiary Of RECPDCL And Also Of REC.
In continuation of our earlier letter dated September 15, 2022 on above cited subject, it is informed that after receipt of consideration comprising of professional fees of Bid Process Coordination, interest cost and reimbursement of expenditure incurred on the project by REC Power Development & Consultancy Limited (RECPDCL), wholly owned subsidiary of REC, the entire shareholding of ER-NER Transmission Limited, comprising of 50,000 equity shares, presently held by RECPDCL, has been transferred at par value along with all its assets and liabilities on October 10, 2022 to M/s Power Grid Corporation of India Limited, the successful bidder selected through tariff based competitive bidding process, for development of 'Transmission System for evacuation of power from ER-NER SEZ.' Hence, with effect from the aforesaid date, the above project specific SPV is not a subsidiary of RECPDCL & REC.
Suzlon Energy charts course to return to its pre-2007 boom days
Sailing in neck-deep debt for over a decade now, largest wind power player Suzlon Energy, which lost its charismatic founder-chairman Tulsi Tanti recently, is on a strong revival course and is confident of returning to its boom years of pre-2007. The Pune-headquartered green energy pioneer was founded in 1995 by Tulsi Tanti -- whose untimely demise on October 1 following a cardiac arrest left the firm shocked as he was driving the revival efforts. The company is on a de-leveraging spree on the back of a recent Rs 2,800-crore refinancing from state-run REC along with Ireda and a Rs 1,200-crore rights issue that opens on Tuesday. The company will repay Rs 1,000 crore to REC from the rights issue proceeds. Of the Rs 2,800 crore 20-year REC loan, only Rs 800 crore is working capital facility and is priced at 19 per cent. "Our problem is not lack of product, technology or servicing capabilities or orders. Even in our worst times we've been servicing all the turbines we installed and now REC Ltd - 532955 - Intimation For Closure Of Trading Window W.E.F 01.10.2022
This is to inform that in terms of Company''s "Code of conduct for regulating, monitoring & reporting of trading by designated persons & their immediate relatives" (''the Code''), the trading window for dealing in equity shares and listed debt securities (tax free bonds etc.) of REC Limited shall remain closed from October 1, 2022 till expiry of forty eight (48) hours after the declaration of financial results for the quarter ended September 30, 2022. During the above period of closure of trading window, all designated persons and their immediate relatives have been advised not to deal in REC''s equity shares/securities. The date of Board Meeting of REC Limited for consideration and approval of financial results for the quarter ended September 30, 2022 will be intimated in due course. REC Ltd - 532955 - Submission Of Newspaper Clipping In Respect Of Notice Of Postal Ballot & Remote E-Voting Information Of REC Limited.
In pursuance of Regulations 30 of SEBI (LODR) Regulations, 2015, we are forwarding herewith copies of newspaper clippings relating to Notice of Postal Ballot & Remote e-voting information of the Company published in 'Business Standard' (English) and 'Business Standard' (Hindi) edition of the newspapers on Tuesday, September 27, 2022. REC Ltd - 532955 - Submission Of Newspaper Clipping In Respect Of Notice Of Postal Ballot & Remote E-Voting Information Of REC Limited.
In pursuance of Regulations 30 of SEBI (LODR) Regulations, 2015, we are forwarding herewith copies of newspaper clippings relating to Notice of Postal Ballot & Remote e-voting information of the Company published in 'Business Standard' (English) and 'Business Standard' (Hindi) edition of the newspapers on Tuesday, September 27, 2022. REC Ltd - 532955 - Shareholder Meeting / Postal Ballot-Notice of Postal Ballot
In compliance with Regulation 30 read with Schedule III of SEBI (LODR) Regulations, 2015 and in furtherance of our earlier letter dated September 16, 2022, please find enclosed the Postal Ballot Notice, which has been sent through e-mail to all the members whose email IDs are registered, on September 26, 2022, for seeking their approval by means of Postal ballot through remote e-voting. REC Ltd - 532955 - REC Conferred With 'Golden Peacock Award For Excellence In Corporate Governance' For The Year 2022.
In compliance with provisions of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform that REC Limited (REC) has been declared as the winner of 'Golden Peacock Award for Excellence in Corporate Governance' for the year 2022 by the Institute of Directors (IoD). The said award is regarded as a benchmark of Corporate Excellence worldwide. The award has been conferred to REC in the Financial Services (PSU) category, based on evaluation of detailed self-assessment parameters, by an eminent jury under the Chairmanship of Hon'ble Justice M. N. Venkatachaliah, former Chief Justice of India. REC Ltd - 532955 - Grant Of 'MAHARATNA' Status To REC Limited
In terms of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, it is informed that based on its financial and other parameters, the Department of Public Enterprises (DPE), Ministry of Finance, Government of India, vide its Office Memorandum (OM) File No. PD-I. 26/0001/2022-DPE dated September 21, 2022, has conveyed grant of 'MAHARATNA' status to REC Limited. The delegation of powers, exercise of delegated powers and review of the performance relating to Maharatna status of REC Limited will be governed in terms of OMs dated February 4, 2010 (available at https://dpe.gov.in/sites/default/files/R-121.pdf) and August 10, 2016 (available at https://dpe.gov.in/sites/default/files/delegated%20power10082016_0.pdf) of Department of Public Enterprises. REC Ltd - 532955 - Disclosure of Voting results of AGM (Regulation 44(3) of SEBI (LODR) Regulations, 2015)
REC Ltd has informed BSE regarding the details of Voting results of AGM, under Regulation 44(3) of SEBI (LODR) Regulations, 2015. Kindly Click here