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IREDA

Public Private Partnership

M/s. M.P. Wind Farms Limited (MPWL) a Joint Sector Company was incorporated in collaboration with IREDA, M.P. Urja Vikas Nigam Ltd (Government of Madhya Pradesh Enterprises) and Consolidated Energy Consultants (P) Limited, a private sector Company with shareholdings of 24%, 25% and 51% respectively. The paid-up capital of MPWL stood at Rs. 70 lakh which includes your Company’s initial subscription of Rs.12.00 lakh and bonus share of Rs.4.80 lakh against the authorized share capital of Rs. 100 lakh. MPWL has reported profit after tax of Rs. 26.62 lakh for the year ended 31.03.20. No dividend has been received by IREDA during the financial year 2019-20.
 
In accordance with the Companies Act, 2013 (“the Act”) and Ind AS-28: Investments in Associates and JV, the consolidated financial statement have been prepared for the investment in associate company as per the Equity method, based on the Ind AS based certified accounts provided by M/s MPWL. The audited consolidated financial statement is provided in the Annual Report.
 
Pursuant to the provisions of Section 129(3) of the Act, a statement containing the salient features of the Financial Statement of the associate in Form AOC-1 forms part of this Annual report.

 

 
Last Updated on 02/09/2020
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