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New UserNTPC inks pact to hive off mining biz to its subsidiary
18 Aug 2023
On July 29, 2023, the company informed the bourses about the
approval of the Board of Directors of NTPC Ltd for hiving off its coal mining
business, consisting of 6 coal mines, to its wholly-owned subsidiary NTPC
Mining Ltd through a Business Transfer Agreement.
State-owned
power giant NTPC on Thursday inked a business
transfer agreement (BTA) to hive off its mining business, comprising six
coalfields, to its arm NTPC Mining Ltd. "NTPC Ltd and NTPC Mining Ltd (NML)
have executed the BTA on August 17, 2023, in New Delhi. The BTA shall become
effective upon completion of the conditions precedent mentioned in the
BTA," a BSE filing stated.
On July 29, 2023, the company informed the bourses about the approval of the
Board of Directors of NTPC Ltd for hiving off its coal mining business, consisting of 6 coal
mines, to its wholly-owned subsidiary NTPC Mining Ltd through a Business
Transfer Agreement.