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Our Bureau

Kolkata , April 23

CESC Ltd has informed that in connection with proposed merger of Balagarh Power and CESCON, both wholly owned subsidiaries, with it, the resolutions pertaining to issue of rights shares and mortgaging of properties have been passed by majority votes in the poll, which took place on April 22 following a court convened general meeting on April 21.

The resolutions — one pertaining to rights issue of 82,69,788 new equity shares of Rs 10 each at a premium of Rs 50 per share and the other regarding mortgaging/charging company's properties to secure term loans and non-convertible debentures - were stated to be as "passed." Certain small shareholders had forced a poll on the resolutions.

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