Maharashtra State Power Generation Co Ltd. (hereinafter referred to as “The Company”) has been incorporated under Indian Companies Act 1956 pursuant to decision of Govt. of Maharashtra to reorganize Erstwhile Maharashtra State Electricity Board (herein after referred to as “MSEB”). The said reorganization of the MSEB has been done by Govt. of Maharashtra pursuant to Part XIII read with section 131 of The Electricity Act 2003. Mahagenco has been incorporated on 31.5.2005 with The Registrar of Companies, Maharashtra, Mumbai and has obtained Certificate of Commencement of Business on 15.09.2005. Mahagenco is engaged in the business of generation and supply of Electricity and has been vested with generation assets, interest in property, rights and liabilities of MSEB as per Gazette Notification dated 4th June 2005 issued by Industry, Energy and Labour Dept of Govt of Maharashtra pursuant to section 131 of Electricity Act 2003.
Following is composition of the Current Board of Directors of the Company.
Shri. Asheesh Sharma, Managing Director
Shri. Rahul Asthana, Pr. Secretary (E), GoM & Director
Shri. Ajoy Mehta, MD, MSEB Holding Co. Ltd
Shri. J. K. Shriniwasan, Director (Finance) (Addl. Charge)
Shri. V. P. Singh, Director (Operations)
Shri. C. S. Thotwe, Director (Projects)
As per Articles 75 & 77 of Articles of Association of the Company Chairman, Managing Director and other Directors of the Company shall be nominated by MSEB Holding Company Ltd. The desired qualifications and experience of the Directors of the Company has been prescribed in Article 78 of the Articles of Association of the Company.
Meetings of the Company
As per Section 285 read with article 86 of Articles of Association of the Company, Meetings of the Board of the Directors of the Company should be held once in every three months and at least four meetings should be held every year. Normally meetings of the Board are held once in a month depending upon the necessity of business to be transacted. The date, time and venue of the meeting being fixed by Secretary with prior approval of Chairman and Managing Director of the Company. The notice & agenda of the Meeting is circulated to the members of the Board and one copy of agenda is endorsed to Secretary (Energy) and Minister (Energy).
Duties of Generating Companies
The Company is a Generating Company within the meaning of section 2 (28) of Electricity Act 2003. Section 10 of Electricity Act 2003 prescribes following duties of generating companies:
(1) Subject to the provisions of this act, the duties of a generating company shall be to establish, operate and maintain generating stations, tie-lines, substations and dedicated transmission lines connected therewith in accordance with the provisions of this Act or the rules and regulations made there under.
(2) A generating company may supply electricity to any licensee in accordance with this Act and rules and regulations made there under and may, subject to the regulations made under sub-section (2) of section 42, supply electricity to any consumer.
(3) Every generating company shall –
Submit technical details regarding its generating stations to the Appropriate Commission and the Authority.
Co-ordinate with the Central Transmission Utility or the State Transmission Utility, as the case may be,for transmissionof the electricity generated by it.
The Board of Directors of the Company has adopted Accounts Code Volume I to VI of Erstwhile MSEB.