Powergrid acquires equity stake in Cross Border Power Transmission Company

Power Grid Corporation of India Limited (PGCIL) has completed the acquisition of 7,730,225 equity shares of IL&FS Energy Development Company Limited (IEDCL) in Cross Border Power Transmission Company Limited (CPTCL). This follows an arrangement where IEDCL, a shareholder in CPTCL, divested its entire equity stake as part of the resolution framework approved by the National Company Law Tribunal.  CPTCL is a joint venture focused on implementing the Indian portion of the 400 kV Muzaffarpur-Dhalkebar Indo-Nepal…