CHENNAI: The reorganisation process of the 52-year-old Tamil Nadu Electricity Board crossed an important stage on Monday with the Registrar of Companies allowing the registration of the Tamil Nadu Transmission Corporation Limited (TANTRANSCO).
Under the Electricity Act, the TNEB requires to be restructured. In October last, the State government decided to reorganise the board by establishing the holding company, TNEB Limited, and two subsidiaries, TANTRANSCO and the Tamil Nadu Generation and Distribution Corporation Limited (TANGEDCO). All the companies will be fully owned by the government.
The Registrar’s nod was communicated on Monday, a senior official of the board said. The registration of TANTRANSCO could not be carried out three months ago because of the enforcement of the model code of conduct for the Lok Sabha elections. After the poll, the government issued an order in the third week of May, allowing the TNEB chairman to complete the formality.
The board official added that its proposal for the registration of two other entities — TNEB Limited and TANGEDCO — was pending with the government.