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News Brief | August 2016

Govt orders probe into 400-MW SMHPC project

The government has ordered an enquiry into ´operation and mismanagement´ of Shree Maheshwar Hydel Power Corp (SMHPC) even as promoter Mukul Kasliwal and main lender Power Finance Corp trade charges of serious lapses that delayed and derailed the country´s first private hydropower venture.

The Ministry of Corporate Affairs has ordered the enquiry into the 400-MW project on Narmada river under Section 206 (4) of the Companies Act after Kasliwal complained against PFC, which led a consortium of lenders to seize management control of the plant in December last year citing the promoter´s inability to infuse adequate equity.

Contact: Ministry of Corporate Affairs

Tel: +91-11-23386110

Website: www.mca.gov.in
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