The ministry is likely to circulate a Cabinet note within a week for comments from other ministries and the Planning Commission on the move to sell the entire government equity in NHPC to NTPC for Rs 4,500 crore, government sources said.

The ministry is giving finishing touches to the Cabinet note to ensure continuation of navratna powers for NTPC even after buying government equity in NHPC at par.

Sources said that the proposal was being expedited to ensure that the promised Rs 2,500 crore from NTPC during the current fiscal as a part payment was transferred to the Consolidated Fund of India by February.

NTPC chairman and managing director Rajendra Singh told PTI, "I have communicated to the government that it will take about 45 days for the corporation to pay Rs 2,500 crore against the confirmed order for buying government equity in NHPC."

Sources said that power minister P R Kumaramangalam had already got the consent of the finance minister before he surprised the power utilities by announcing the deal in Mumbai last week, evoking sharp reactions from Congress, Left parties and trade unions.

To subdue the opposition from NHPC unions, which sought prime ministerial intervention to stop the move, both the power minister and NTPC chairman have assured that there would not be any organisation or managerial changes even after NHPC becomes a 100 per cent subsidiary.

When contacted, Kumaramangalam admitted that there was no lock-in period envisaged in the deal to prevent NTPC from divesting stake in the subsidiary. He, however, told PTI that any such situation would nota rise as "government is owner of NTPC and any decision to dilute stake in subsidiary nhpc can not be taken without our approval."