11th-May-2012 11:56Source: NSE

NTPC Limited

Ntpc Limited has informed the Exchange that "With a view, to have benefit of synergy of operation, enhancement of efficiency and administrative control and to optimize utilization of resources, the Board of Directors, in its meeting held on May 10, 2012 has approved a Scheme of Amalgamation of NTPC Hydro Limited (NHL), a wholly owned subsidiary of NTPC Limited with NTPC Limited subject to compliance of Companies Act, 1956 and subject to receipt of requisite approval from Ministry of Corporate Affairs, shareholders and stock exchanges, Ministry of Power, Government of India vide letter dated April 10, 2012 has also allowed amalgamation of NTPC Hydro Limited with NTPC Limited subject to approval of competent authority in terms of Section 391-394 of the Companies Act 1956 after following due process."