REC LIMITED — Capital/Financing Update 2022

Aug 5, 2022

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2.	Dateonwhichtheagreement for sale has beenentered into.	The process for sale and transferofthesaidSpyto the successful bidder(s)isexpectedtocompleteinthe financial year 2022-23.	The process for sale and transferofthesaidSpyto the successful bidder(s)isexpectedtocompleteinthe financial year 2022-23.	The process for sale and transferofthesaidSpyto the successful bidder(s)isexpectedtocompleteinthe financial year 2022-23.
3.	Theexpecteddateofcompletionofsale/disposal.
4.	Consideration received fromsuchsale/ disposal.
5.	Brief detailsofbuyer andwhether the buyers belongto the promoter/ promotergroup/group companies.Ifyes, details thereof.	SI.NameoftheSFNameofNo.SuccessfulBidderI.NeemuchPowerGridTransmissionCorporationofIndiaLimitedLimitedItispertinent to mention that the successfulBidder mentioned above does not belong toPromoter and Promoter grouP.	NameoftheSF	NameofSuccessfulBidder
			NeemuchTransmissionLimited	PowerGridCorporationofIndiaLimited
6.	Whetherthetransactionwould fall within relatedparty transactions?Ifyes,whether the sameisdone at"arm'slength".	The transaction does notfallwithin thepurviewofrelated party transaction.
7.	Whether the transactionisin the natureofSlump Sale.	The proposal for sale and transferofthewholly-owned subsidiaryofRECPDCLandREC, to the successful bidder as per detailsgiven in Point no. 5 above,isnot in thenatureofslump sale.Further, the consideration for sale&transferofSPYsisdetermined in accordance withtheGuidelines issued, from time to time, by theMinistryofPower, Government ofIndia.

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