PFC subsidiary Bihar Infrapower dissolved after Banka UMPP closure
Power Finance Corporation Limited (PFC) has informed the stock exchanges that its wholly owned subsidiary, Bihar Infrapower Limited, has been struck off from the register of companies by the Registrar of Companies under Section 248 of the Companies Act, 2013.
The dissolution follows the closure of the Banka Ultra Mega Power Project (UMPP) in Bihar, for which the subsidiary had been established as a special purpose vehicle (SPV).
Company struck off
Bihar Infrapower Limited was incorporated on June 30, 2015, as an SPV to hold licences, land and other assets associated with the Banka UMPP. Following the decision to discontinue the project, the Ministry of Power, Government of India, approved the closure of the company and the striking off of its name on November 27, 2025.
Subsequently, the required documents were submitted to the Ministry of Corporate Affairs (MCA). The MCA has now issued the final order for dissolution of the company.
Role in Banka UMPP
According to PFC’s annual report for FY 2017-18, Bihar Infrapower Limited was incorporated as a wholly owned subsidiary with an authorised and paid-up share capital of Rs 5,00,000.
The company was established to hold the coal block licence, coal block land, power plant land and corridor land required for the construction, operation and maintenance of the electricity system and integrated fuel system for the Banka Ultra Mega Power Project in Bihar.
PFC stated that Bihar Infrapower Limited was not a material subsidiary of the corporation. The striking off forms part of the formal closure process for the SPV, which had ceased active operations following the abandonment of the underlying power project.
