When it recently made a request to the Gujarat government to take 51 per cent equity in its beleaguered Mundra ultra mega power plant, Tata Power marked the letter to the Prime Minister’s Office (PMO). A copy was sent to the secretary of the ministry of power. The letter, which was addressed to Gujarat Urja Vikas Nigam Limited’s (GUVNL’s) managing director Pankaj Joshi, wanted the Gujarat government – a procurer from the project – to take 51 per cent equity in the plant at just Re 1. Adani Power did something similar, with letters sent to the PMO and departments in the Gujarat government, sources said.
While the PMO has been at the centre of all key decision-making in the current government, it is increasingly turning out to be the most important touchpoint for India Inc.
For instance, when Tata Sons removed Cyrus Mistry as its chairman in a boardroom coup of sorts last October, the PMO was the first government department to be informed about the development. In fact, Ratan Tata wrote to Prime Minister Narendra Modi, informing him about removing Mistry as chairman of Tata Sons with immediate effect. Soon after, Tata and Mistry are reported to have met the prime minister separately. Read More…
Credit By: Business Standard
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