Power Finance Corporation Limited (PFC) has announced that its wholly owned subsidiary, Sakhigopal Integrated Power Company Limited, has been officially struck off and dissolved by the Registrar of Companies with effect from March 9, 2026.
In a regulatory filing to the stock exchanges, PFC informed that the removal of SIPCL’s name was carried out under Section 248 of the Companies Act, 2013. The company clarified that SIPCL was not a material subsidiary of PFC.
SIPCL was originally incorporated on May 21, 2008 under the Companies Act, 1956 as a Special Purpose Vehicle (SPV). The entity was established to develop a proposed 4,000 MW Ultra Mega Power Project in the state of Odisha.
However, the project was subsequently shelved, leading to the decision to close the subsidiary. The Ministry of Power, Government of India, granted approval for the closure and striking off of the company on November 27, 2025. Following this approval, the necessary documentation was filed with the Ministry of Corporate Affairs (MCA), which ultimately approved the strike-off.
PFC stated that the dissolution of SIPCL is part of the formal closure process after the discontinuation of the planned project.
