Download - Link Intime

INFORMATION MEMORANDUM
VII.
BRIEF CORPORATE HISTORY OF OUR COMPANY CHANGES IN THE REGISTERED AND
CORPORATE OFFICE MAJOR EVENTS AND MILESTONES
Brief Corporate History of our Company
Our Company was incorporated as a private limited company under the Companies Act, on July 25, 1969
at New Delhi as “Rural Electrification Corporation Private Limited”. The word “private” was deleted from
the name of our Company on June 03, 1970. Our Company became a deemed public limited company with
effect from July 01, 1975. Our Company was converted into a public limited company with effect from July
18, 2003.
Our Company was declared a ‘Public Financial Institution’ under Section 4A of the Companies Act,
pursuant to a notification (S.O. 128(E)) dated February 11, 1992 issued by the then Department of
Company Affairs, Ministry of Law, Justice and Company Affairs, GoI. We are also registered with the RBI
as an NBFC with effect from February 10, 1998. Further, RBI vide its letter dated September 17, 2010
categorised REC as an Infrastructure Finance Company (“IFC”), in terms of their circular dated February
12, 2010.
Changes in the Registered and Corporate Office
Our Registered and Corporate Office is currently situated at Core-4, SCOPE Complex, 7, Lodhi Road, New
Delhi 110 003, India. Our registered office was initially situated at Floor No. 3, Jeevan Vihar, Parliament
Street, New Delhi 110 001, India, pursuant to a resolution of our Board dated September 5, 1969. The
table below encapsulates changes in our registered office since our incorporation.
Date of shareholders’
resolution
September 5, 1969
March 3, 1970
1969 Incorporation of our Company
1970 Commenced lending operations to SEBs
1974 Authorised by the Ministry of Irrigation and Power to finance rural electrification
under the ‘Minimum Needs Programme’
1979 CIRE set up in Hyderabad
1988 Launch of Kutir Jyoti and Jal Dhara programmes for rural electrification
1992 Declared a Public Financial Institution under Section 4A of the Companies Act
1993 Entered into MoU with the MoP for the year 1993-1994 for the first time to achieve
certain performance related targets
1998 Registered as a NBFC under Section 45(IA) of the RBI Act.
2001 Allowed to issue Capital Gains Tax Exemption Bonds under Section 54 EC of the IT
Act.
Upgradation from Schedule ‘B’ to Schedule ‘A’ Corporation
2002 Grant of Mini Ratna- I status
2005 Appointed as the nodal agency for RGGVY
2006 Entered into agreement with Japan International Cooperation Agency for availing a
loan facility of JPY 20,629 million
Entered into agreement with KfW, Frankfurt am Main for availing a loan facility of
Euro 70 million
2008 Listed Equity Shares of the Company on NSE and BSE
Accorded “Navratna” status by the Department of Public Enterprise, GoI for our
8
PRIVATE & CONFIDENTIAL
Change in address of the Registered Office
Floor No. 3, Jeevan Vihar, Parliament Street, New Delhi 110 001, India.
D-5, NDSE, Part-II, South Extension, New Delhi 110 049, India.
November 30, 1976 2nd and 3rd Floor, DDA Building, Nehru Place, New Delhi 110 019,
India.
November 28, 1995
Major Events and Milestones
Calendar Year
Core-4, SCOPE Complex, 7, Lodhi Road, New Delhi 110 003, India.
Event