Prez approves REC, Power Fin Corp merger
Synopsis The President has approved the merger of REC Ltd into Power Finance Corporation. This move follows PFC's acquisition of a majority stake in REC
Synopsis The President has approved the merger of REC Ltd into Power Finance Corporation. This move follows PFC's acquisition of a majority stake in REC in 2019. The Ministry of Power conveyed the approval. The merger will see REC's assets and liabilities transferred to PFC. REC will be dissolved post-merger.
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