|The Company was originally incorporated as Suryachakra Power Corporation
Limited on February 28, 1995 with registration no. 01-19554, in Hyderabad,
Andhra Pradesh under the Companies Act, 1956 and obtained certificate of
commencement of business on March 16, 1995. The Company was converted
into a private limited company with effect from August 9, 2000. Pursuant to this,
the name of the Company was changed to Suryachakra Power Corporation
Private Limited. The Company was re-converted into a public limited company with
effect from September 8, 2005 in terms of Section 31(1)/44 of the Companies Act,
1956. Pursuant to this, the name of the Company was changed to Suryachakra Power
Corporation Limited. The Company was promoted by Dr. S.M. Manepalli and his
Suryachakra had bagged the award to construct and operate a 20 MW Diesel based
Power Plant in Andaman & Nicobar Islands by the A & N Administration. The project
was awarded to Suryachakra in Competitive Bidding. Accordingly, PPA was signed by
the Chief Secretary, Andaman & Nicobar Administration on behalf of President of India
on 20th November 1997. This Power Station has to work as base loan station and supply
energy in the South Andaman i.e. Port Blair and nearby Villages.
It is the only company in the private sector to dedicate a thermal power plant in the union
territory of Andaman and Nicobar Islands to the nation.
The A & N administration declared commercial operation date for the plant at
Andaman and Nicobar with effect from April 01, 2003.
The Company has acquired 100% shareholding in the following three companies that
are also into power generation.
1. Lahari Power & Steels Limited
2. South Asian Agro Industries Limited
3. MSM Energy Limited
Lahari, SAAIL and MSM have become wholly owned subsidiaries on November 26, 2005,
November 21, 2005 and November 23, 2005 respectively.