Shareholders turn down Reliance Power's asset monetisation plan

A report by Institutional Investor Advisory Services (IiAS) last month says that the company has defaulted on loans to the tune of Rs 3,561 crore as on March 31, 2022

Shareholders of Reliance Power (RPower) have turned down the company’s asset monetisation plan during its annual general meeting (AGM) held on Saturday.
 

Disclosing the results of the AGM on Monday, the company said 72 per cent shareholders had voted in favour of the special resolution to monetise its assets. The remaining 28 per cent had voted against the resolution.

Yet, the resolution did not get through because a special resolution requires 75 per cent of shareholders to vote in its favour, according to proxy advisory firms. A report by Institutional Investor Advisory Services (IiAS) last month said the company defaulted