CESC drops plans to separate distribution and generation biz
Kolkata: Kolkata-based power generation and distribution company CESCNSE -0.72 % will no longer pursue its plan to separate generation and distribution businesses, it has informed in a stock market filing on Thursday.
In the filing, CESC said that in continuation of its intimation dated 12 October 2018, informing shareholders that the scheme was made effective from 1 October 2017, except demerger of the generation undertaking of the company into Haldia Energy Ltd, a wholly-owned CESC subsidiary.
“The Board of Directors, at its meeting held on Thursday, inter alia, discussed the present status of the demerger and decided that it would be prudent and in the best interest of the company, its shareholders and other stakeholders to no longer pursue the said Demerger.
