October 18, 2000
Merger of Tata Electric companies completed
In June 2000, the Board of Tata Electric Companies announced the plan to merge The Tata Power Co. Ltd., The Andhra Valley Power Supply Co. Ltd., and The Tata Hydro-Electric Power Supply Co. Ltd. The proposal was to merge the two smaller companies namely The Tata Hydro-Electric Power Supply Co. Ltd and The Andhra Valley Power Supply Co. Ltd. with The Tata Power Co. Ltd. Necessary approvals from the shareholders were obtained in August 2000 and the process for merger commenced.
By Orders dated 18th October, 2000, the High Court of Judicature at Bombay has sanctioned the Scheme of Amalgamation of The Andhra Valley Power Supply Co. Ltd. and The Tata Hydro-Electric Power Supply Co. Ltd. with The Tata Power Co. .Ltd. This will enable Tata Power to have a much stronger Balance Sheet and target larger projects in future. Tata Power is currently the largest private power sector company in the country. The merger will further accelerate its growth. With plans going into related infrastructure of Broadband communication and energy the Company is positioning itself as a national player in the energy and communication sector.