Adani Transmission Seeks Shareholders' Nod For Related-Party Deals Worth Rs 10,600 Crore
Three resolutions for the purpose of related party transactions during 2022-2023 are listed on the agenda.
Adani Transmission Ltd. on Tuesday said that it will seek shareholders' approval for the proposed related-party transactions worth up to Rs 10,600 crore in 2022-2023.
Three resolutions for the purpose of related party transactions during 2022-2023 are listed on the agenda as per the notice of the company's Annual General Meeting scheduled on July 27.
One such listed transaction will be with Adani Enterprises Ltd. for purchase of power, coal, rendering of service, receipt of service and other transactions for business purpose from or to AEL worth up to Rs 2,500 crore during 2022-2023.
Another such transaction will be with Adani Infra (India) Ltd. repayment of Unsecured Perpetual Equity Instrument along with Distribution on Unsecured Perpetual Equity Instrument; providing/taking financial assistance in the form of revolving interest bearing inter corporate deposit(s)/loans, in one or more tranches worth up to 5,200 crore during 2022-23.
There will be another transaction with Adani Properties Private Ltd. Providing/taking financial assistance in the form of revolving interest bearing inter corporate deposit(s)/loans, in one or more tranches worth Rs 2,900 crore in 2022-2023.
Disclaimer: Adani Enterprises is in the process of acquiring a 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.