Regulatory Commission (Connectivity and General Network Access to the Inter-State Transmission System) Regulations, 2022, the Central Transmission Utility of India Limited (CTUIL) has prepared the Draft Detailed Procedure for Approval of Change in Control of Connectivity Grantees.
This procedure specifies the modalities, process, and timelines for seeking approval from the Nodal Agency in cases where any change in control of a Connectivity Grantee is proposed prior to the Commercial Operation Date (COD). The extant regulations mandate that promoters or shareholders of Connectivity Grantees retain control until COD. Any deviation requires prior written approval from CTUIL. In case of contravention, connectivity may be revoked, bank guarantees encashed, and Conn-BG1, Conn-BG2, and Conn-BG3 shall be treated as per applicable regulations.
CTUIL invites comments, suggestions, and objections from stakeholders and interested persons on the draft procedure. Submissions may be sent to the office of the COO, CTUIL, Gurugram, Haryana, or by email.
The last date for submission is 17th December 2025. Comments received after the stipulated date may not be considered while finalizing the procedure for submission to CERC for notification.
The procedure applies to all Connectivity Grantees who are Renewable Energy Generating Stations (excluding hydro) or Energy Storage Systems (excluding PSP), covering both new and existing grantees who have not achieved COD. It defines eligibility, preconditions, grounds for change in control, the application process, indemnification, and record-keeping.
Key grounds for approval include insolvency/liquidation proceedings, governmental/statutory transfers, lender step-in rights due to default, changes in consortium/JV shareholding, exit of foreign companies from India, and other shareholding changes. The process requires submission of cover letters, board resolutions, control structures, entity details, transaction documents, project implementation status, lender consents, compliance certificates, BG revalidation, and undertakings from transferees.
CTUIL will maintain a register of all approved changes in control and submit half-yearly reports to CERC. The procedure may be periodically reviewed by CTUIL in consultation with stakeholders or as directed by CERC.
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