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57-748: Mahavitaran or Mahadiscom or MSEDCL (Maharashtra State Electricity Distribution Company Limited) is a wholly-owned subsidiary of the Maharashtra State Electricity Board . It is the largest electricity distribution utility in India (2nd largest in the World after SGCC ). MSEDCL distributes electricity to the entire state of Maharashtra except for some parts of Mumbai city where Brihanmumbai Electric Supply and Transport , Tata Power and Adani Electricity Mumbai Limited are electricity distributors. The erstwhile Maharashtra State Electricity Board (MSEB)

114-405: A corporate , although this term can also apply to cooperating companies and their subsidiaries with varying degrees of shared ownership. A parent company does not have to be the larger or "more powerful" entity; it is possible for the parent company to be smaller than a subsidiary, such as DanJaq , a closely held family company, which controls Eon Productions , the large corporation which manages

171-415: A 50-50 joint venture with John Deere to manufacture tractors in India, called L&T - John Deere. L&T sold their interest to John Deere in 2005. In 1992, L&T established L&T-Case Construction with CNH Global as a 50-50 joint venture to build backhoes. In 2011, L&T sold its share to CNH, and the company was renamed Case New Holland Construction Equipment India. In 1987, L&T launched

228-414: A US-based payments systems company, for around Rs 150 crore. Gilbarco has signed a definitive purchase agreement to acquire the business. With the completion of acquisition, L&T's PDP business will become part of a new division called Gilbarco Veeder-Root India Pvt Ltd. This was a joint venture of L&T and Kobe Steel of Japan, to manufacture internal mixers and twin screw roller-head extruder's for

285-476: A definition that provides that "control" is "the capacity of an entity to dominate decision-making, directly or indirectly, in relation to the financial and operating policies of another entity so as to enable that other entity to operate with it in pursuing the objectives of the controlling entity". This definition was adapted in the Australian Corporations Act 2001 : s 50AA. Furthermore, it can be

342-416: A few years of operation and MSEDCL has to take over these areas after facing huge loss of revenue from these two Metro Cities. Recently the company has appointed Distribution Franchisees for Malegaon town. Zero Load Shedding Model is being implemented at certain places with the active participation of local citizens through consumer groups and peoples representatives. The mechanism is extremely transparent and

399-404: A joint arrangement (joint operation or joint venture) over which two or more parties have joint control (IFRS 11 para 4). Joint control is the contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities require the unanimous consent of the parties sharing control. The Companies Act 2006 contains two definitions: one of "subsidiary" and

456-432: A judgment against the parent if they can pierce the corporate veil and prove that the parent and subsidiary are mere alter egos of one another. Thus any copyrights, trademarks, and patents remain with the subsidiary until the parent shuts down the subsidiary. Ownership of a subsidiary is usually achieved by owning a majority of its shares . This gives the parent the necessary votes to elect their nominees as directors of

513-414: A load of about 30,000 MW. By 2030, there will be an addition of another 10,000 MW in the system. With a view to cater to future load, provide quality, reliable energy supply, and reduce losses MSEDCL formulated Rs. 11000 crore infrastructure plan. The plan envisages the erection and commissioning of 586 sub-stations, 52351 circuit kilometers of HT lines, 58,629 distribution transformers besides augmentation of

570-490: A paid-up capital of ₹ 20 lakh (equivalent to ₹ 22 crore or US$ 2.6 million in 2023). The sales turnover in that year was ₹ 1.09 crore (equivalent to ₹ 120 crore or US$ 14 million in 2023). In 1956, a major part of the company's Bombay office moved to ICI House in Ballard Estate , which would later be purchased by the company and renamed as L&T House, its present headquarters. During

627-675: A power loom city, had typical problems like rampant theft and non-payment. MSEDCL opted for an input-based franchisee model for electricity distribution. It has handed over Bhiwandi Circle to M/S Torrent Power on 26 January 2007. This experiment proved to be very successful and a trendsetter in the power distribution sector of the Country. Its later Distribution franchisee attempts for Aurangabad Urban I & II Divisions of Aurangabad Urban Circle (M/s GTL Private Limited) and Gandhibag, Civil Lines, and Mahal Divisions of Nagpur Urban Circle (given to M/s Spanco & later M/s Essel group) miserably failed after

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684-486: A relay servicing unit. EWAC Alloys Limited was a wholly owned subsidiary of L&T. The company was engaged in design & development, manufacture and supply of special welding electrodes, gas brazing rods and fluxes, welding torches and accessories, atomised metal powder alloys, flux cored continuous wires & wire feeders, polymer compounds & wear-resistant plates. Prof Wasserman, founder of Eutectic Castolin, and Henning Hock Larsen, founder of L&T, founded

741-455: A subsidiary undertaking, if: The broader definition of "subsidiary undertaking" is applied to the accounting provisions of the Companies Act 2006, while the definition of "subsidiary" is used for general purposes. In Oceania , the accounting standards defined the circumstances in which one entity controls another. In doing so, they largely abandoned the legal control concepts in favour of

798-453: A total consideration of Rs 522 crore. The share purchase agreement has been executed on 11 October 2017. The acquirer ESAB offers products for welding and cutting process. In 2012, ESAB was acquired by Colfax Corp., a diversified industrial manufacturing company based in the US. In November 2009, Larsen and Toubro (L&T) sold its petroleum dispensing pump (PDP) business to Gilbarco Veeder-Root ,

855-428: A useful part of the company that allows every head of the company to apply new projects and latest rules. Larsen %26 Toubro Larsen & Toubro Limited , abbreviated as L&T , is an Indian multinational conglomerate , with interests in industrial technology , heavy industry , engineering , construction , manufacturing , power , information technology , military and financial services . It

912-559: A year or two, would be in a position to grant agricultural connections on-demand on par with other categories of consumers. In 5 years, MSEDCL reduced distribution losses from 35% to 20% through various drives such as: This is being implemented on regular basis. MSEDCL has established 50 flying squads functioning under Security and Enforcement department to detect and handle power theft cases quickly. For many consumers, meters were installed in hard-to-access places, making theft easy to conceal. MSEDCL, therefore, decided to shift all meters to

969-532: Is 19.03%, Commercial Consumers is 7.35%, Industrial Consumers is 42%, Agricultural Consumers is 25.13% and others is 6.49%. MSEDCL operates through a network of offices consisting of a Corporate Office in Mumbai, 4 Regional Offices (Konkan, Pune, Aurangabad & Nagpur), 16 Zonal Offices, 44 Circle Offices, and 145 Divisional Offices. MSEDCL's sources of power include thermal, hydro, gas, and non-conventional sources like solar, wind, bagasse, etc. apart from hydropower of

1026-997: Is a subsidiary/child company of the ultimate parent company, while a second-tier subsidiary is a subsidiary of a first-tier subsidiary: a "grandchild" of the main parent company. Consequently, a third-tier subsidiary is a subsidiary of a second-tier subsidiary—a "great-grandchild" of the main parent company. The ownership structure of the small British specialist company Ford Component Sales, which sells Ford components to specialist car manufacturers and OEM manufacturers, such as Morgan Motor Company and Caterham Cars , illustrates how multiple levels of subsidiaries are used in large corporations: The word "control" and its derivatives (subsidiary and parent) may have different meanings in different contexts. These concepts may have different meanings in various areas of law (e.g. corporate law , competition law , capital markets law ) or in accounting . For example, if Company A purchases shares in Company B, it

1083-713: Is being implemented in two phases – Part-A and Part-B. Creation of IT infrastructure and allied works are included in Part-A for which a turnkey contract for 95 towns has been awarded to M/s. Larsen & Toubro Ltd. while M/s Spanco Ltd has been awarded the Part 'A' contract for the remaining 35 towns. On completion of Part-A, the works under Part-B which include renovation and modernization of distribution network, load bifurcation, load balancing, aerial bunched conductoring, HVDS, capacitor bank, etc. will be taken up. Distribution loss in R-APDRP towns

1140-770: Is headquartered in Mumbai , Maharashtra . L&T was founded in 1938 in Bombay by Danish engineers Henning Holck-Larsen and Søren Kristian Toubro . As of 31 March 2022, the L&;T Group comprises 93 subsidiaries, 5 associate companies, 27 joint ventures and 35 jointly held operations, operating across basic and heavy engineering, construction, realty, manufacturing of capital goods, information technology, and financial services. On 1 October 2023, S N Subrahmanyan took charge as Chairman and Managing Director of L&T. Henning Holck-Larsen and Søren Kristian Toubro were in India to represent

1197-512: Is on par with urban areas. The project cost of these schemes is Rs. 3233 crores. This is a flagship scheme of Govt. of India. There are 4,709 villages and 13,44,087 identified BPL households targeted to be electrified under this scheme. MSEDCL had prepared proposals for 34 schemes costing Rs. 829 crore for 33 districts of Maharashtra. Maharashtra has been implementing the scheme and has spent Rs. 443 crore so for. Connections to 905541 BPL households have been released and 4243 villages electrified under

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1254-497: Is possible that the transaction is not subject to merger control (because Company A had been deemed to already control Company B before the share purchase, under competition law rules), but at the same time Company A may be required to start consolidating Company B into its financial statements under the relevant accounting rules (because it had been treated as a joint venture before the purchase for accounting purposes). Control can be direct (e.g., an ultimate parent company controls

1311-726: Is prior approved by the Regulator. In this model, a costly power to the extent of shortfall is arranged for which a reliability charge is levied upon the local consumers. Beginning in Pune, the model was implemented in Navi Mumbai, Thane, Pen and Baramati. Of late MSEDCL itself filed a petition before the MERC for implementing Zero Load Shedding Model at all the Headquarters of Revenue Divisions - Nagpur, Amravati, Navi Mumbai, Pune and Aurangabad. The MERC approved

1368-745: Is subject to completion of customary closing conditions including receipt of applicable regulatory and other approvals. The equity shares of the company are listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE). The company's shares constitute a part of the BSE SENSEX of the BSE as well as the NIFTY 50 index of the NSE . Its global depository receipts (GDR) are listed on

1425-467: Is targeted to be reduced to 15%. Energisation of Agricultural Pumps: Maharashtra has a record number, highest as compared to any state, of agricultural pumps energized so far. The number is about 30 lakhs. Earlier, there used to be a long list of pending applications and the farmers used to wait for years together for supply. The issue was addressed in a proper perspective by MSEDCL. Nowadays about 1 lakh agricultural pumps are energized every year. MSEDCL, in

1482-650: The Hyderabad Metro Rail project. In June 2019, the company acquired a controlling stake in IT services company Mindtree . As of 31 March 2022, L&T has 93 subsidiaries, 5 associate companies, 27 joint ventures and 35 joint operations. L&T has across the decades exited from several businesses. These include: L&T sold its 16.5 million tonne/per year capacity cement division to UltraTech Cement and also divested its 8.5% stake in A V Birla group company Grasim Industries in 2004. In 1992, L&T established

1539-464: The James Bond franchise. Conversely, the parent may be larger than some or all of its subsidiaries (if it has more than one), as the relationship is defined by control of ownership shares, not the number of employees. The parent and the subsidiary do not necessarily have to operate in the same locations or operate the same businesses. Not only is it possible that they could conceivably be competitors in

1596-596: The Koyna Hydroelectric Project . Thermal power constitutes the major share which it gets from Mahagenco projects, Central Sector projects, and RGPPL. In terms of infrastructure, MSEDCL operates a vast far-flung network comprising MSEDCL has a workforce of about 54,546 employees. To overcome the power crisis and improve consumer services MSEDCL made an in-depth study involving sub-division-wise research of distribution networks and planned ambitious projects. They include : MSEDCL's existing network handles

1653-616: The Luxembourg Stock Exchange and London Stock Exchange . Shareholders as of 31 December 2022 As on 31 March 2022, the company had 45,615 permanent employees, out of which 2,997 were women and 48 employees with disabilities. At the same period company had 200,062 workers on contract basis. An agreement has been signed by Nibe Space, a division of Nibe Defence and Aerospace on 9 September 2024, with Larsen & Toubro, Skyroot Aerospace , Centum Electronics , AgniKul Cosmos , SpaceFields, Sisir Radar and CYRAN AI Solutions for

1710-564: The 1960s, ventures included the Utkal Machinery Limited (UTMAL) (set up in 1960), Audco India Limited (1961), Eutectic Welding Alloys (1962) and Tractor Engineers Limited (TENGL) (1963). In 1965, the firm had been chosen as a partner for building nuclear reactors . Dr. Homi Bhabha , chairman of the Atomic Energy Commission had approached L&T in the 1950s to fabricate critical components for nuclear reactors. During

1767-470: The 1970s, L&T was contracted to work with Indian Space Research Organisation (ISRO). Chairman Vikram Sarabhai chose L&T as manufacturing partner. In 1976, ECC bid for a large airport project in Abu Dhabi . ECC's balance sheet, however, did not meet the bid's financial qualification requirement. So it was merged into L&T. ECC was eventually rechristened L&T Construction and now accounts for

Maharashtra State Electricity Distribution Company Limited - Misplaced Pages Continue

1824-652: The Eutectic Division in India in the year 1962. Eutectic Castolin was later merged into the Messer Group of companies, Germany and referred as Messer Eutectic Castolin (MEC). In 2010, L&T, bought the entire stake from Messer to become the wholly owned subsidiary of it. The current headquarters is in Ankleshwar, Gujarat (India), and the products are sold under the name EWAC. L&T sold its entire stake in unlisted subsidiary EWAC Alloys to UK-registered ESAB Holdings for

1881-418: The L&T Medical Equipment & Systems division. In November 2012, it was sold to Skanray Technologies Pvt Ltd. Currently, L&T Mysore division manufactures Single-phase and Three-phase static solid-state Electricity Meters to various utilities in India. The range of meters varies from residential, industrial, prepayment and smart meters. there are both whole current and CT operated meters. It also houses

1938-416: The construction division of L&T. By 1947, the company represented the manufacturers of equipment used to manufacture products such as hydrogenated oils , biscuits , soaps and glass. In 1947, the company signed an agreement with Caterpillar Tractor Company to market earth moving equipment . At the end of the war, large numbers of war-surplus Caterpillar equipment were available at attractive prices, but

1995-592: The electrical and automation business is a part of its strategic portfolio review process. L&T Mutual Fund was the mutual fund company of the L&T Group. Its average assets under management (AuM) as of May 2019 is ₹ 73,936.68 crore. On November 26, 2022, L&T Mutual Fund was sold to HSBC . Larsen & Toubro, signed an agreement to divest its stake in L&T IDPL to a portfolio company of Infrastructure Yield Plus II, an infrastructure fund managed by Edelweiss Alternatives in December 2022. The transaction

2052-442: The electronic segment, L&T offered a range of metres and provides control automation systems for industries. In May 2018, the firm signed a definitive agreement with Schneider Electric for the strategic divestment of its electrical and automation (E&A) business in an all-cash deal of ₹14,000 crore. The deal was completed on 31 August 2020 after receiving the requisite regulatory approvals. L&T has said that its exit from

2109-422: The existing network. MSEB had erected 1846 sub-stations during its lifetime, whereas MSEDCL aims to construct 586 sub-stations in just 2 years. A leap forward in the direction of infrastructure development. The project is being implemented on a total turn-key basis and through 119 DPRs. Orders of about Rs. 9189 crore has already been placed on various agencies. Earlier capital investment for infrastructure development

2166-511: The finances required were beyond the capacity of the partners. This prompted them to raise additional equity capital, and on 7 February 1946, Larsen & Toubro Private Limited was incorporated. In 1947, the firm set up offices in Calcutta and Madras and New Delhi . In 1948, 55 acres of undeveloped marsh and jungle was acquired in Powai , Mumbai. In December 1950, L&T became a public company with

2223-453: The first-tier subsidiary directly) or indirect (e.g., an ultimate parent company controls second and lower tiers of subsidiaries indirectly, through first-tier subsidiaries). Recital 31 of Directive 2013/34/EU stipulates that control should be based on holding a majority of voting rights, but control may also exist where there are agreements with fellow shareholders or members. In certain circumstances, control may be effectively exercised where

2280-475: The formation of a new company, Hilda Ltd, to handle these operations. L&T also started to repair and fabricate ships. The internment of German engineers in India who were to construct a soda ash plant for the Tata Group gave L&T a chance to enter the field of installation. In 1946, they incorporated Engineering Construction & Contracts Ltd. (ECC) to focus on construction projects. ECC now exists as

2337-419: The front of buildings to make them as conspicuous as possible. This project is currently in progress on a large scale. MSEDCL has decided to replace all the meters which have been in service for the last 10 years and more under the mass meter replacement program. It is planned to replace all the electromechanical meters with static ones. A process has already been initiated for purchasing about 30 lakh meters for

Maharashtra State Electricity Distribution Company Limited - Misplaced Pages Continue

2394-441: The infrastructure and reduces technical losses. MSEDCL has also implemented Single Phasing Scheme in some parts of Maharashtra. Currently rural areas face 8.30 to 11 hours of load shedding a day which is decided by MERC. However, the load shedding hours have been almost halved in about 24,461 villages that have been covered so far under these schemes. The load shedding duration of these villages has come down to 2.00 to 5.45 hours which

2451-600: The interests of the Danish dairy equipment manufacturer FLSmidth when they founded L&T through an oral agreement in 1938. The company was legally incorporated in 1946. The start of World War II in 1939 and the resulting blockade of trade, led Larsen and Toubro to undertake jobs and provide service facilities. The German invasion of Denmark in April 1940 stopped supplies of Danish products. The war-time need to repair, refit, and degauss ships offered L&T an opportunity, and led to

2508-515: The largest slice of the group's annual revenue. In 1985, L&T entered into a partnership with the Defence Research and Development Organisation (DRDO). L&T was not yet allowed by the government to manufacture defence equipment but was permitted to participate in design and development programmes with DRDO. After the design and development was done, the firm had to hand over all the drawings to DRDO. The Indian government would then assign

2565-555: The marketplace, but such arrangements happen frequently at the end of a hostile takeover or voluntary merger. Also, because a parent company and a subsidiary are separate entities, it is entirely possible for one of them to be involved in legal proceedings, bankruptcy, tax delinquency, indictment or under investigation while the other is not. In descriptions of larger corporate structures, the terms "first-tier subsidiary", "second-tier subsidiary", "third-tier subsidiary", etc. describe multiple levels of subsidiaries. A first-tier subsidiary

2622-479: The other "subsidiary undertaking". According to s.1159 of the Act, a company is a "subsidiary" of another company, its "holding company", if that other company: The second definition is broader. According to s.1162 of the Companies Act 2006, an undertaking is a parent undertaking in relation to another undertaking, a subsidiary undertaking, if: An undertaking is also a parent undertaking in relation to another undertaking,

2679-468: The parent holds a minority or none of the shares in the subsidiary. According to Article 22 of the directive 2013/34/EU an undertaking is a parent if it: Additionally, control may arise when: Under the international accounting standards adopted by the EU a company is deemed to control another company only if it has all the following: A subsidiary can have only one parent; otherwise, the subsidiary is, in fact,

2736-476: The production work to a public sector defence unit or ordnance factory for manufacture. The firm currently makes a range of weapon and missile systems, command and control systems, engineering systems, and submarines through DRDO. Larsen & Toubro established a financial services subsidiary called L&T Finance in November 1994. In 2015, the company began developing commercial, retail and office space around

2793-869: The proposal and the model was implemented at these headquarters from December 2009. MSEDCL has planned to extend it further to district headquarters, taluka headquarters and so on. Subsidiary The subsidiary can be a company (usually with limited liability ) and may be a government-owned or state-owned enterprise . They are a common feature of modern business life, and most multinational corporations organize their operations in this way. Examples of holding companies are Berkshire Hathaway , Jefferies Financial Group , The Walt Disney Company , Warner Bros. Discovery , or Citigroup ; more focused companies include IBM , Xerox , and Microsoft . These, and others, organize their businesses into national and functional subsidiaries, often with multiple levels of subsidiaries. Subsidiaries are separate, distinct legal entities for

2850-556: The purpose. This is a huge project which will definitely lead to increase in metered sales. MSEDCL has undertaken accurate energy accounting through various methods such as : MSEDCL plans to install high-quality meters at all necessary system points, including interconnecting points. Feeder metering of all 10,240 feeders in complete and again, photo reading of these feeder meters are taken. There are total 2,84,633 Distribution Transformer Centers(DTCs) in operation, out of which about 1.51 Lakh DTCs have already been metered. Bhiwandi,

2907-430: The purposes of taxation , regulation and liability . For this reason, they differ from divisions which are businesses fully integrated within the main company, and not legally or otherwise distinct from it. In other words, a subsidiary can sue and be sued separately from its parent and its obligations will not normally be the obligations of its parent. However, creditors of an insolvent subsidiary may be able to obtain

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2964-562: The scheme. BPL families are provided with 1.5 point power connections at a nominal charge of Rs.15/- each and the villages are electrified as per the new definition under this scheme. R-APDRP is a flagship scheme sponsored by Govt. of India and financed by the Power Finance Corporation of India (PFC). There are 134 towns having population of more than 30,000 as per the 2001 census selected in Maharashtra under this scheme. The scheme

3021-460: The subsidiary, and so exercise control. This gives rise to the common presumption that 50% plus one share is enough to create a subsidiary. There are, however, other ways that control can come about, and the exact rules both as to what control is needed, and how it is achieved, can be complex (see below). A subsidiary may itself have subsidiaries, and these, in turn, may have subsidiaries of their own. A parent and all its subsidiaries together are called

3078-404: The tyre industry. L&T sold its entire 51% stake in L&T Kobelco Machinery Private to its joint venture partner in the company, Kobe Steel of Japan, for Rs 43.5 crore. L&T was an international manufacturer of electrical and electronic products and systems. The company manufactured custom-engineered switchboards for industrial sectors like power, refineries, petrochemicals and cement. In

3135-431: Was a paltry sum of Rs. 200 to 300 crore per year. The new infrastructure with augmentation and renovation of the distribution network will revolutionize the quality and reliability of supply. MSEDCL has been implementing long-term Load Management schemes to reduce load shedding. Feeder separation is one such long-term scheme in which agriculture feeders are carved out. This not only helps load management but also strengthens

3192-496: Was created to hold all the stakes in these three companies. MSEDCL supplies electricity to a total of 28.4 million consumers across the categories all over Maharashtra. There are about 20.7 million Domestic Residential (72.4%), 4 million Agricultural (16%), 1.7 million commercial (7%), and 0.346million industrial consumers (1.8 0%) in MSEDCL who fetch an Annual Revenue of about Rs.500 million. The consumption share of Residential Consumers

3249-669: Was looking after Generation, Transmission & Distribution of Electricity in the State of Maharashtra. But with the enactment of the Electricity Act 2003 of the Government of India, MSEB was unbundled into 4 Companies on 6 June 2005 viz. Of these, Mahavitaran is responsible for the distribution of electricity throughout the state by buying power from either MahaGenco, Captive Power Plants, or from other State Electricity Boards and Private sector power generation companies. The 'MSEB Holding Company'

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