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By Anand Singha Dec 28, 2022 5:24:52 PM IST (Published)
According to a BSE filing, the wholly-owned subsidiary of Adani Transmission, BEST Smart Metering (BSML), was registered with the Gujarat Registrar of Companies in Ahmedabad on December 27, and has not yet started conducting business.
Adani Transmission on Wednesday, December 28, said it has incorporated a wholly-owned subsidiary, BEST Smart Metering (BSML), to undertake the smart meter business. According to a BSE filing, BSML was formed in India, registered with the Gujarat Registrar of Companies in Ahmedabad on December 27, 2022, and has not yet started conducting business.
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"Company has incorporated a wholly-owned subsidiary company in the name of BEST Smart Metering Ltd," a BSE filing stated.
This holds significance in view of the Revamped Distribution Sector Scheme (RDSS), a government initiative designed to assist discoms in increasing their operational effectiveness and financial viability by providing them with result-linked financial assistance to strengthen supply infrastructure based on meeting pre-qualifying criteria and achieving minimally required standards.