New Delhi: Power System Operation Corporation Limited (POSOCO), a PSU company under the Ministry of Power, conducted its 10th Annual General Meeting (AGM) at its registered office in New Delhi. POSOCO's CMD KVS Baba chaired the meeting. In the AGM POSOCO's Directors, Director (HR) Meenakshi Davar, Director (Market Operation) Praveen Kumar Agarwal, Director (Finance) Ranjan Kumar Srivastava, Director (System Operation), SR Narasimhan and representatives from the Ministry and Auditors were also present. It was the second AGM of the company with its functional Directors, after becoming an independent government company in January 2017.
In the AGM, POSOCO adopted its financial results for FY 2018-19 and approved the payment of a final dividend of Rs 0.94 crore. This is in addition to the interim dividend of Rs 3.80 crore which was paid earlier to the Ministry of Power.
POSOCO is a wholly-owned government enterprise under the Ministry of Power. Earlier it was a wholly-owned subsidiary of Powergrid Corporation of India Limited (POWERGRID). The company was formed in March 2009 to handle the power management functions of POWERGRID. POSOCO is responsible for managing the power system operations – a mission-critical activity, with security, economy and reliability. To achieve this, it has adopted a multidisciplinary approach with state of the art technology. It ensures equitable use of transmission infrastructure and has invested significantly in its human capital and towards strengthening the whole power system faculty. It operates the National Load Despatch Centre and the five Regional Load Despatch Centers.
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Telegram. Join PSU Watch Channel in your Telegram and stay updated)