PFC subsidiary PFC Projects struck off by MCA
Power Finance Corporation Limited (PFC) has informed the stock exchanges that its wholly owned subsidiary, PFC Projects Limited (PPL), has been struck off from the Register of Companies by the Registrar of Companies (RoC), effective June 1, 2026.
The action was taken under Section 248 of the Companies Act, 2013, following approvals from the Ministry of Power and the Ministry of Corporate Affairs (MCA).
PPL, formerly known as Coastal Karnataka Power Limited, was originally established as a wholly owned subsidiary of PFC for the development of an Ultra Mega Power Project in Karnataka.
In 2022, the company’s name and object clause were amended to enable its participation in Lenders-backed Resolution Plans (LbRPs). However, due to the absence of approval from the Department of Investment and Public Asset Management (DIPAM), no future business opportunities were expected for the company.
The Board of Directors of PPL approved the proposal for striking off the company’s name, subject to the required approvals and settlement of all liabilities.
On March 13, 2026, the Ministry of Power, Government of India, approved the closure and striking off of the company. Subsequently, the necessary documents were filed with the MCA.
The MCA approved the striking off on June 1, 2026, resulting in the removal of PPL from the Register of Companies.
