Reliance Power gets shareholders’ nod to raise borrowing limit
Reliance Power shareholders have approved a resolution to increase its borrowing limit to up to five times its paid up capital and free reserves
New Delhi: Reliance Power shareholders have approved a resolution to increase its borrowing limit to up to five times its paid up capital and free reserves.
Currently, the Reliance Power board was authorised to raise funds only up to three times the paid up capital and free reserves.
The special resolution to enable board of director to borrow funds (apart from temporary loans) up to five time of the paid up capital and free reserves was passed by the requite majority by shareholders in the annual general meeting of the company held yesterday, Reliance Power said in a BSE filing today.
In September, 2014 the shareholders of the company had authorised the board to borrow funds up to three times of paid capital and free reserves of the company.
In a separate resolution, the shareholders also authorised the board to raised money through issuance of non- convertible debentures in one or more tranches/series on private placement basis.
Reliance Group companies have sued HT Media Ltd, Mint’s publisher, and nine others in the Bombay high court over a 2 October 2014 front-page story that they have disputed. HT Media is contesting the case.
- Bankruptcy code is key to solving India’s bad loan mess
- RBI’s registry will help solve problem of credit shortage: iSpirt’s Sharad Sharma
- Fintech regulation at an inflection point: Shardul Amarchand’s Shilpa Mankar Ahluwalia
- Voice and AI biggest transformative tech, says EY’s Mahesh Makhija
- User consent could be central to data privacy law, says Tanuj Bhojwani of iSpirt
Editor's Picks »
- What ABB India’s performance in June quarter says about capex growth
- Bajaj Finance does well in Q1 even as competition hots up
- Kotak Mahindra Bank: The perils of being priced to perfection
- Higher cane price crushes hopes of sugar mills
- Market optimism before 2019 general election: History may not repeat itself