- The Company is mainly incorporated to take over the assets, liabilities & personnel of the Residual GEB in tune with the Schedule G of the Main Transfer Scheme Notification dt. 24th October, 2003. The Company has to carry out the residual functions (including power trading) of erstwhile GEB.
- The one of the objects/functions of the Company apart from above includes Co-ordination of the activities of its subsidiaries, business, works to determine their economic and financial objectives/targets and to review, control, guide and direct their performance with a view to secure optimum utilization of all resources placed at their disposal.
- The Main Object to be pursued by the Company in terms of the Memorandum and Articles of Association of the Company are as under:
- 1. To carry on the business of purchase, procurement, import, sale, supply, export and trade of all forms of electrical power, conventional and non-conventional, and to coordinate, enter into association with others in connection with such purchase, procurement, import, sale, supply, export, trade and distribution of all forms of electrical power and undertake all connected functions in India and abroad and without prejudice to the generality of the above, to purchase or procure electricity from generating companies, captive power plants, Electricity Utilities, Governments, other bodies and organization, trading concerns, licensees and others, including import from abroad and to sell, supply, trade, export and otherwise deal in electrical power to the electricity utilities, licensees, Governments, other bodies and organizations trading concerns and others including export.
- 2. To plan, promote, develop and establish an efficient and reliable power trading system, power exchange and system for transfer / wheeling of power from the power producers, generating and transmission companies within India and abroad in accordance with the applicable laws, rules and regulations and to promote and organize research and development or to carry on consultancy services in the field of power supply, trading conservation of electricity and other related activities of the Company.
- 3. To carry on the business of construction, management of fuels systems, hydel, wind and solar resources and to search for, get, acquire, buy, sell or otherwise deal in oils, gases, coal, coal rejects, fuel oil, naphtha, liquefied natural gas, raw petroleum stock or any other fuel solid, liquid or gas whether found in natural state or obtained by processing from other substances and to carry on business of production, working, treating, manufacturing and preparation of any such or related materials which can be usefully applied for the power generation of electricity or conveniently be combined with manufacturing, engineering or other business of the company or any contracts undertaken by the company either for such purpose or an independent business, subject to approval required, if any, of appropriate authority.
