MAHARATNA STATUS TO NTPC
20th May, 2010
Government of India, Deptt. of Public Enterprises, Ministry of Heavy Industries & Public Enterprises vide Office Memorandum dated 19th May, 2010 has conveyed grant of Maharatna status to NTPC apart from three other Central Public Sector Enterprises (CPSEs). Since, presently NTPC has requisite number of non-official Directors on its Board, therefore, only NTPC is eligible to exercise delegated Maharatna powers.
Consequent upon grant of Maharatna status, the Board of Directors of NTPC shall be, inter-alia, empowered to make equity investment to establish financial joint ventures and wholly-owned subsidiaries and undertake mergers & acquisitions, in India or abroad, subject to a ceiling of 15% of the net worth, limited to Rs.5000 crore in one project as against earlier limit of Rs.1000 crore.
The exercise of Maharatna powers would be subject to the same conditions and guidelines as laid down by the Government in respect of Navratna CPSEs from time to time.
NTPC , the largest power generating company of the country, presently has an installed capacity of over 31000 MW. NTPC presently operates over 26 power stations. Currently over 17,000 MW capacity is under construction at 19 projects in 12 states and NTPC plans to become a 75 GW by 2017.
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