RBI No Objection Certificate received for proposed merger scheme
The company has received a No Objection Certificate (NOC) from the Reserve Bank of India on October 15, 2026.
By ScoutQuest · · 2 min read
- RBI NOC Received On
- October 15, 2026
- Scheme
- merger of REC Limited with and into Power Finance Corporation Limited
- Statutory Basis
- sections 230-232 of the Companies Act, 2013
RBI No Objection Certificate received
The company has informed the exchanges that it has received a No Objection Certificate (NOC) from the Reserve Bank of India on October 15, 2026, subject to the instructions/conditions specified therein.
What the NOC relates to
- The proposed scheme of merger of REC Limited (described as the Transferor Company) with and into Power Finance Corporation Limited (described as the Transferee Company), and their respective shareholders and creditors.
- The scheme is proposed under sections 230-232 and other applicable provisions of the Companies Act, 2013.
What still applies to the scheme
- The scheme remains subject to such other statutory and regulatory approvals as may be required under applicable laws and the provisions of the scheme.
- It also remains subject to fulfilment of such other conditions to the effectiveness of the scheme.
- This includes the approval of the respective shareholders and creditors of the companies involved in the scheme.
Background
- The company's earlier letter dated June 28, 2026 informed that the respective Boards of Directors of the Transferor Company and the Transferee Company had approved the scheme, subject to receipt of applicable regulatory and other approvals.
What this means in simple terms
- A No Objection Certificate from RBI is one of the regulatory clearances connected to the proposed merger. Receipt of this clearance moves the proposal one step forward in the approval process.
- The NOC comes with instructions/conditions specified by RBI, which the company has said the scheme would be subject to.
- The merger is not yet effective: the update states that the scheme remains subject to other statutory and regulatory approvals and to the fulfilment of other conditions, including shareholder and creditor approvals.
How a retail investor might read it: the announcement records receipt of one regulatory clearance, while the scheme itself is still described as subject to further approvals and conditions before it becomes effective.
Also from REC
Three power transmission subsidiaries incorporated under RECPDCL
23 Oct 2026
Board meeting on October 26 to consider September-quarter results and 2nd interim dividend
21 Oct 2026
No-objection letters from NSE and BSE received for proposed merger into Power Finance Corporation
19 Oct 2026
Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.