The board of Adani Power on Tuesday approved the slump sale of its 4,620 MW thermal power plant in Mundra, Gujarat, to its subsidiary Adani Power (Mundra). According to media reports, Adani Power may offer a majority stake in the subsidiary to Gujarat Urja Vikas Nigam (GUVNL), the state electricity board. The debt relating to the Mundra unit is in the region of Rs 15,000 crore. "This sale is for a lump sum consideration, without values being assigned to the individual assets and liabilities," the company said in a notice to the stock exchanges. A slump sale, experts said, might be a tax efficient way of transferring the power asset out of Adani Power. They said the carry-forward losses of the unit would be transferred to the subsidiary. In Q4FY17, the Gautam Adani-promoted company reversed an amount of Rs 3,650 crore on account of compensatory tariff that it had accrued for the Mundra plant.