Power Finance Corporation Limited (PFC) has officially dissolved its wholly-owned subsidiary, PFC Projects Limited (PPL). The development was disclosed through a regulatory filing submitted to the National Stock Exchange (NSE) and BSE on June 2, 2026. According to the filing, the Registrar of Companies (RoC) struck off the name of PFC Projects Limited from its register with effect from June 1, 2026, under the provisions of Section 248 of the Companies Act, 2013.
PFC Projects Limited was initially incorporated as Coastal Karnataka Power Limited with the objective of developing an Ultra Mega Power Project in Karnataka. In 2022, PFC changed the name of the company to PFC Projects Limited and revised its object clause. The company was then expected to participate in Lender-backed Resolution Plans (LbRPs) and explore new business opportunities in this area.
However, the proposed business activities could not move forward due to the absence of approval from the Department of Investment and Public Asset Management (DIPAM). Without the required clearance, the subsidiary was unable to pursue its planned operations and had limited prospects for future business growth.
As a result, the Board of Directors of PFC Projects Limited decided to initiate the process of striking off the company’s name. The subsidiary completed the settlement of its liabilities and obtained the necessary regulatory approvals required for closure. The proposal received approval from the Ministry of Power, Government of India, on March 13, 2026.
Following the ministry’s approval, PFC submitted the required documents to the Ministry of Corporate Affairs (MCA) to complete the dissolution process. The MCA subsequently granted its final approval, and the company was officially struck off on June 1, 2026.
The disclosure was formally communicated to the stock exchanges by the Company Secretary and Compliance Officer of Power Finance Corporation Limited, informing investors and stakeholders about the completion of the subsidiary’s closure process.
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