Power Finance Corporation Limited (PFC) has announced the official strike-off and dissolution of its wholly-owned subsidiary, Sakhigopal Integrated Power Company Limited (SIPCL). The dissolution was effective from March 9, 2026, approved under Section 248 of the Companies Act, 2013. SIPCL was originally incorporated in 2008 as a Special Purpose Vehicle (SPV) for a 4000 MW Ultra Mega Power Project in Odisha, which was subsequently closed.
Subsidiary Dissolution Confirmed
Power Finance Corporation Limited (PFC) has officially confirmed the strike-off and dissolution of its wholly-owned subsidiary, Sakhigopal Integrated Power Company Limited (SIPCL). The Registrar of Companies formally approved the dissolution effective from March 9, 2026, citing Section 248 of the Companies Act, 2013.
Background of SIPCL
SIPCL was incorporated on May 21, 2008, under the Companies Act, 1956. It was established specifically as a Special Purpose Vehicle (SPV) with the objective of establishing a 4000 MW Ultra Mega Power Project located in the state of Odisha. Following a decision to close this proposed project, the process for delisting the subsidiary commenced.
Regulatory Approvals
The Ministry of Power, Government of India, provided its approval for the closure and striking off of SIPCL’s name on November 27, 2025. Subsequent required documentation for the closure was filed with the Ministry of Corporate Affairs (MCA), which resulted in the final approval on the date mentioned above. PFC noted that SIPCL was not a material subsidiary of the corporation.
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Source: BSE
