The Government of Tamil Nadu vide G.O Ms No 114 dated 08.10.2008, accorded in-principle approval for the re-organisation of TNEB by establishment of a holding company, by the name TNEB Ltd and two subsidiary companies, namely Tamil Nadu Transmission Corporation Ltd (TANTRANSCO) and Tamil Nadu Generation and Distribution Corporation Ltd (TANGEDCO).
2. Based on the above G.O. the Tamil Nadu Transmission Corporation Ltd was registered on 15.06.2009. The Certificate of commencement of business has been obtained for the TANTRANSCO on 11.12.2009. The Tamil Nadu Transmission Corporation Ltd was inaugurated on 14.12.2009 and the Chairman, Managing Director, Director-Transmission Projects, Director-Finance have assumed office on 14.12.2009.
3. Further, the holding company, TNEB Ltd was registered on 01.12.2009 and the Tamil Nadu Generation and Distribution Corporation Limited (TANGEDCO) on 01.12.2009. The Certificate for Commencement of Business have been obtained for TNEB Ltd and Tamil Nadu Generation and Distribution Corporation Ltd (TANGEDCO) on 12.03.2010 and 16.03.2010 respectively. The Chairman cum Managing Director (Present Chairman/TNEB), Director/Generation, Director/Projects and Director/Finance assumed office for TANGEDCO & Director/Operation for TANTRANSCO on 8.4.2010. Similarly, Chairman cum Managing Director (Present Chairman/TNEB) and 4 part time directors of TNEB Ltd (viz MD/TANTRANSCO, Director/Generation, Director/Distribution & Director/Finance/TANGEDCO) have assumed office.
4. The proposal for Assets Transfer and Employee transfer has been notified by GoTN on 19.10.2010 . Based on the Transfer scheme, the Board has been re-organised with effect from 01.11.2010. The finalization of the Draft Tripartite Agreement between Government, Board and Employees is under process and the same will be finalized at the earliest. Also, as the provisional period for transfer of assets is one year and as the period has expired on 31.10.2011, Government of Tamil Nadu have been addressed to extend the provisional period for a further period of one year i.e. up to 31.10.2012 with a request to notify the same with provisional opening Balance Sheet of the successor companies as on 1.11.2010 based on 2009-10 audited accounts.