New Delhi: NTPC Limited on Monday announced transferring Kerandari Coal Mine to its wholly-owned subsidiary NTPC Mining Ltd (NML), as part of an agreement.
On October 1, NTPC transferred Chatti Bariatu Coal Mine and Badam Coal Mine, located in Jharkhand, to NML in line with the amended Business Transfer Agreement (BTA) dated September 17.
In an exchange filing, NTPC said Kerandari Coal Mine, located in North Karanpura Coalfields in Hazaribagh, Jharkhand, has been transferred to NML with effect from December 1.
In August, NTPC said that the coal mining business, comprising six coal blocks/mines, and all related assets and liabilities, will be transferred in a phased/progressive manner on satisfaction of condition precedents specified in the amended BTA, as a going concern on a slump sale basis.
The transfer has to be completed within 365 days from the date of signing of the BTA, subject to necessary approvals/clearances.
The net worth of the coal mining business was Rs 3,150.98 crore as on March 2025.
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)