Shareholders of Suzlon Energy have passed with requisite majority all 12 special resolutions proposed, including doubling the borrowing limit and re-appointment of Tulsi Tanti as the company’s managing director.
The approvals came through postal ballot as well as e-Voting facility, the result of which was announced today. A total of 3,323 ballot papers were received representing nearly 111.28 crore shares, Suzlon said in a filing to the BSE. The number of votes in favour stood at 2,682 representing 109.89 crore shares.
The shareholders have approved doubling the limit of borrowing from Rs 10,000 crore to Rs 20,000 crore and also to make investments, give loans, guarantees and provide securities beyond the prescribed limits.
They also gave their approval to re-appointment of Tulsi Tanti as Managing Director and the sale of the company’s undertakings.