NTPC for full control of PSUs acquired via divestment scheme

State-run power producer NTPC NSE 0.08 % has sought complete control over the two public-sector hydroelectric power companies it acquired last year under the Centre’s disinvestment programme, and suggested discontinuation of the posts of managing director and directors in these firms after the current incumbents’ tenures are over, an official said.

The Maharatna company, according to the official cited earlier, told the government its investors are worried that the company is investing ₹11,500 crore in these companies without getting management control.

It also said the two PSUs–North Eastern Electric Power Corp (NEEPCO) and THDC India–can leverage NTPC’s financial strength for cheaper finance.