U'khand project damage may not be material as per SEBI norms: NTPC
A day after an under-construction NTPC hydroelectric project was damaged in Uttarakhand's Chamoli district, the state-run power major said on Monday that the damage may not be considered material or significant as per SEBI norms in the light of overall size of the company's operations and its total capacity.
image for illustrative purpose
New Delhi, Feb 8 A day after an under-construction NTPC hydroelectric project was damaged in Uttarakhand's Chamoli district, the state-run power major said on Monday that the damage may not be considered material or significant as per SEBI norms in the light of overall size of the company's operations and its total capacity.
Noting that flash flood triggered by a glacier break near Tapovan in Uttarakhand damaged a part of the Tapovan Vishnugad (520 MW) project, the PSU said that appropriate insurance cover is available for the losses or damage it suffered.
"However, considering the total size of operations of NTPC Limited (present standalone commercial capacity of 51,310 MW and group commercial capacity of 63,925 MW), the impact of the above-mentioned event on the company as a whole may not be considered material in terms of Para B of Part A of Schedule III of SEBI (LODR) Regulations, 2015," the NTPC said in an exchange filing.
Clause 6 of Para B of Part A of Schedule III of LODR specifies events such as "disruption of operations of any one or more units or division of the listed entity due to natural calamity (earthquake, flood, fire etc), force majeure or events such as strikes, lockouts etc" that shall be disclosed upon application of the guidelines for materiality.
