Power Finance Corporation Ltd.

Our Company was incorporated on July 16, 1986 under the Companies Act
 as a public limited company, registered with the RoC, National
 Territory of Delhi and Haryana and received the certificate for
 commencement of business on December 31, 1987. Our Company was
 incorporated as a financial institution to finance, facilitate and
 promote India�s power sector development and was notified as a public
 financial institution under Section 4A of the Companies Act in August
 31, 1990. 
  
 Our Company is not operating under any injunction or restraining
 order. 
  
 Infrastructure Finance Company  
  
 On July 28, 2010, our Company was classified as an Infrastructure
 Finance Company (IFC). As an IFC we are able to raise funds on a cost
 competitive basis. 
 
 Navratna Company 
  
 On June 22, 2007, our Company was notified as a Navratna company by
 the GoI. As a Navratna company, we  are eligible for enhanced
 delegation of powers to our Board, including (a) the power to incur
 capital expenditure without governmental approval upto a specified
 limit; (b) ceiling on equity investment to establish financial joint
 ventures and wholly owned subsidiaries in India or abroad to be 15%
 of the net worth of our Company in a single project limited to `
 10,000 million and the overall ceiling on such investments in all
 projects put together 
 to be 30% of the net worth of our Company; (c) power to enter into
 mergers and acquisitions subject to certain conditions; and (d) the
 Board has the power to further delegate the powers relating to human
 resource management (appointments, transfers, postings, etc,) of
 executives below Board level to sub-committees of the Board or to
 executives of our Company as may be decided by the Board.  
  
 Changes in registered office  
  
 At the time of incorporation, the registered office of our Company
 was situated at Room No. 627, Shram Shakti Bhawan, Rafi Marg, New
 Delhi 110 001, India. On March 25, 1988, the registered office of our
 Company was shifted to Chandralok, 36, Janpath, New Delhi 110 001,
 India. Subsequently, on September 23, 2006, the registered office of
 our Company was shifted to Urjanidhi, 1 Barakhamba Lane, Connaught
 Place, New Delhi - 110 001 for ensuring administrative and
 operational efficiency. 
 
 Major events  
  
 In addition to the events described above, the following table
 illustrates the major events in the history of our Company since its
 incorporation. 
  
 Calendar Year  Event 
 
 1986                 Incorporation of our Company.  
 
 1987                 Certificate of commencement of business
 received.  
 
 1988                 Commencement of lending activities;  
 
                          Evolution of broad operational policies
 identifying priority areas for providing financial assistance; and  
                          Formulation of short term, medium term and
 long-term strategies for operations.  
 
 1989                 Provided first guarantee to Mitsui and Company,
 Japan for payment of principal, for Rupees equivalent to Japanese Yen
 27.39 billion for supplier credit made available to Uttar Pradesh
 State Electricity Board for setting up of 1,000 MW Anpara B Thermal
 Power Project.  
 
 1990                 Declared as a public financial institution under
 section 4A of Companies Act.  
 
 1991                 Conferred with a license to deal in foreign
 exchange in the power sector.  
 
 1992                 Project on Energy Management Consultation and
 Training made operational with the objective to bring about
 improvement in the efficiency of the energy supply component of the
 power sector with the help of USAID. 
 
 1993                 First MoU with GoI in relation to operational
 targets and rated excellent on the basis of all round performance for
 the same.  
 
 1994                 Company declared maiden dividend to the GoI.  
 
 1996                 Started funding private power projects. 
 
 1998                -  Registered as an NBFC; 
                          -  Declared a Mini Ratna (Category I); and 
 
                          -  Promoted PTC India Limited as joint
 venture with NTPC Limited and Powergrid Corporation of India Limited.
 
 
 1999                 Launched consultancy services in order to
 provide consultancy services to both state owned and private power
 utilities for the power and financial sectors.  
 
 2003                 Appointed by the MoP as a nodal agency to fund
 the India Power Fund scheme to catalyze the process of  fresh equity
 investment in the power sector. 
 
 2004                 Project appraisal system certified as ISO 9001. 
 
 
 2005                 Entered into MoU with LIC and ten leading public
 sector banks for consortium financing of power projects.  
 
 2006                 Set up seven subsidiary companies for developing
 UMPPs; and  
                         Our disbursement crossed Rs. 100,000 million.
  
 
 2007                -  Incorporation of 4 new subsidiaries 2 for
 developing UMPPs and 2 for developing ITPs;  
                         -  Listing of our Equity Shares on the Stock
 Exchanges. 
                         -  Declared as a Navratna PSU. 
 
 2008                -  Appointed as nodal agency for APDRP; 
                         - Three of our SPVs/subsidiaries namely
 Coastal Gujarat Power Limited for Mundra UMPP in Gujarat, Sasan Power
 Limited for Sasan UMPP in Madhya Pradesh and Coastal Andhra Power
 Limited for Krishnapatnam UMPP in Andhra Pradesh were transferred to
 the successful bidders;  
                         -  Launch of R-APDRP programe; and  
                         -  Incorporation of a new subsidiary namely
 PFC Consulting Limited for undertaking consultancy assignment in the
 power sector.  
 
 2009                -  PFCCL appointed as the bid process coordinator
 for ITPs; 
                         -  Jharkhand Integrated Power Limited
 SPV/subsidiary established  for Tilaiya UMPP in Jharkhand transferred
 to the successful bidder; and 
                        -  Our Company featured in the list of top 500
 Global Financial Brands 2009. 
 
 2010               
 
 - Received ISO 9001:2008 certification; and Registered with the RBI
 as an Infrastructure Finance Company. 
 
 - PFC - MOU between PFC & NPCIL
 
 2011               
 - Public issue of long term infrastructure bonds.
 
 - Empowered Group of Ministers (EGoM) approved for the Issue Price
 for PFC's FPO.
 
 - Incorporated a wholly-owned subsidiary Company namely Power Finance
 Corporation Green Energy Ltd
 
 2012
 -PFC - incorporated a Special Purpose Vehicle (SPV), as a
 wholly-owned subsidiary Company namely Deoghar Mega Power Limited
 
 -Power Finance Corp disburses Rs 7,400 cr loan to 5 sick Discoms
 
 2013
 
 - PFC - Incorporation of four Special Purpose Vehicles (SPVs) as
 wholly owned subsidiaries by PFC Consulting Limited, a wholly owned
 subsidiary of Power Finance Corporation Limited (PFC).
 
 - Power Finance Corporation - wholly-owned subsidiary, PFC Green
 Energy Ltd is expected to commence its operations by the month of
 March.
 
 - PFC have allotted  no. of equity shares of Rs. 10/- each of the
 Company to the Employees upon exercise of stock options under the
 Companys Employee Stock Option Scheme i.e. PFC ESOP 2010 Scheme.
 
 - PFC informed Transfer of wholly owned subsidiary of PFC Consulting
 Ltd.
 
 2014
 - Power Finance Co  informed - Incorporation of Two (2) wholly Owned
 Subsidiaries of Power Finance Corporation Ltd, Cheyyur Infra Ltd. and
 Odisha Infrapower Ltd.
 - Power Finance Co - Transfer of wholly owned subsidiary of PFC
 Consulting Ltd
 - Power Finance Corporation (PFC) may extend a Rs 15,000-crore loan
 to the Andhra Pradesh government to improve power sector
 infrastructure facilities, it was officially announced.
 - The Securities and Exchange Board of India has granted a
 certificate of registration as a Debenture Trustee to PFC Capital
 Advisory Services Limited, a wholly owned subsidiary of Power Finance
 Corporation Limited (PFC).
 
 2015
 -PFC achieves MOU Targets of Financial Year 2014-15 for Sanctions and
 Disbursements
 -Power Finance Corporation (PFC)  has incorporated Bihar Mega Power
 Limited as its wholly-owned subsidiary
 -Power Finance Corporation Ltd (PFC) has incorporated Jharkhand
 Infrapower Ltd as a wholly owned subsidiary of the company
 
 2016
 -Power Finance Corporation acquires 23% stake in SMHPCL
 -Power Finance Corporation Ltd. has been conferred with Governance
 NowPSU Award 2016
 -PFC received the prestigious 'Rajbhasha Kirti Pratham Puruskar' (in
 the category of region �A�) for the year 2015-16
 
 2017
 -Power Finance Corporation has declared the payment of interim
 dividend @ Rs. 6/- per equity share on the face value of the paid-up
 equity shares of Rs. 10/- each for the FY 2017-18.