Power Finance Corp to absorb REC Limited; Cyril Amarchand Mangaldas acts on merger

Banking & Finance 1 Jul 2026· ₹2.42 lakh · Announced· ◔ Reported

Cyril Amarchand Mangaldas has acted as the transaction counsel for merger by absorption of REC Limited into Power Finance Corporation Limited, and the consequent dissolution of REC without being wound up and on a going concern basis. The Firm advised both Power Finance Corp and REC on this merger. The deal involved extensive discussions with the Ministries and other governmental authorities to finalise the scheme and the overall structuring of the Proposed Merger. The transaction was led by Amey Pathak (Partner, Head - Banking) and Dhruv Singhal (Partner), with assistance from Deval Dangayach (Senior Associate), Hina Tolani (Senior Associate), Divisha Sharma (Associate), Shivi Chola…

CounselCyril Amarchand Mangaldas
SectorEnergy & Renewables
Value₹2.42 lakh

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