GAIL (India) Limited has secured approval from the National Company Law Tribunal (NCLT) for its previously announced acquisition of a 26% stake in ONGC Tripura Power Company (OTPC) from Infrastructure Leasing & Financial Services (IL&FS).
The Indian government-owned natural gas transmission company is acquiring the stake from IL&FS Group companies — IL&FS Energy Development Company (IEDCL) and IL&FS Financial Services Ltd (IFIN).
GAIL (India) said that the deal is yet to be closed and actions are being taken by the company and IL&FS towards the same.
ONGC Tripura Power Company owns a 726.6MW combined cycle gas turbine (CCGT) thermal power plant in Palatana, Tripura.
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