REC Ltd - 532955 - Shareholder Meeting / Postal Ballot-Scrutinizer''s Report
The consolidated voting results in terms of Regulation 44(3) of the SEBI (LODR) Regulations, 2015 and Scrutinizer''s Report dated September 17, 2022 are enclosed herewith. Based on the Report of the Scrutinizer, it is hereby informed that all resolutions as set out in the Notice of 53rd AGM of the Company have been duly approved & passed by the shareholders with requisite majority. REC Ltd - 532955 - Shareholder Meeting / Postal Ballot-Outcome of AGM
The 53rd Annual General Meeting of REC Limited (REC) was held on Friday, September 16, 2022. As per requirement of Regulation 30 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the proceedings of 53rd AGM of REC are enclosed herewith. The results of the matters that were put to vote, as required under Regulation 44(3) of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 will be submitted separately. You are requested to take the same on record. REC Ltd - 532955 - Intimation Under Regulation 30 Of SEBI (LODR) Regulations, 2015.
In compliance with Regulation 30 read with Schedule III of SEBI (LODR) Regulations, 2015, it is informed that the Company proposes to seek approval of shareholders through postal ballot process for (i) amendment in objects clause of Memorandum of Association and (ii) appointment of Shri Piyush Singh, Joint Secretary, Ministry of Power, as Government Nominee Director on the Board of REC. The timelines for the Postal Ballot is as per letter attached. The Postal Ballot Notice and Explanatory Statement will be sent to stock exchanges in due course, for dissemination. REC Ltd - 532955 - Board Approval For (I) Incorporation Of SPV As Wholly Owned Subsidiary Of RECPDCL And (Ii) Sale And Transfer Of ER-NER Transmission Limited To M/S Power Grid Corporation Of India Limited.
In pursuance of Regulation 30 read with Schedule III of SEBI (LODR) Regulations, 2015, this is to inform that the Board of Directors of the Company in its meeting held on September 15, 2022 inter-alia approved the following proposals:- 1. Incorporation of a project-specific special purpose vehicle (SPV), as wholly owned subsidiary of REC Power Development & Consultancy Limited (RECPDCL), for the transmission project i.e. Construction of Meerut (765) - Shamli 400 kV D/C line. The proposed Company will also be subsidiary Company of REC Limited, in terms of the provisions of Section 2(87) of the Companies Act, 2013. 2. Sale and transfer of ER NER Transmission Limited held by RECPDCL to M/s Power Grid Corporation of India Limited, the successful bidder selected through Tariff Based Competitive Bidding process. REC Ltd - 532955 - Announcement under Regulation 30 (LODR)-Amendments to Memorandum & Articles of Association
In compliance with the provisions of Regulation 30 read with Schedule III of SEBI (LODR) Regulations 2015, this is to inform that the Board of Directors of REC Limited in its meeting held on September 15, 2022, inter-alia approved the addition of new sub-clause, as detailed hereunder, in the objects clause of memorandum of association of REC Limited, subject to approval of the shareholders:- 'To lend to logistics and infrastructure sectors to the extent permitted by the Government of India.' REC Ltd - 532955 - Announcement under Regulation 30 (LODR)-Change in Directorate
In terms of Office Order no. 50/1/2019-RE dated September 14, 2022 of the Ministry of Power, Government of India, the Board of the Company in its meeting held on September 15, 2022 has appointed Shri Piyush Singh (DIN: 07492389), Joint Secretary, Ministry of Power as Government Nominee Director on the Board of REC Limited with effect from September 14, 2022 and until further orders, subject to approval of shareholders vice Shri Vishal Kapoor (DIN: 08700132). Shri Piyush Singh is not inter-se related to any other Director of the Company and is not debarred from holding the office of Director by virtue of any SEBI Order or any other such authority. REC Ltd - 532955 - Intimation Under Regulation 30 Of SEBI (LODR) Regulations, 2015 - Offering Circular For Its Existing U.S.$ 7,000,000,000 Global Medium Term Note Programme
In accordance with the provisions of Regulation 30 read with Schedule III of SEBI (LODR) Regulations, 2015, it is hereby informed that REC Limited has updated Offering Circular for its existing U.S.$ 7,000,000,000 Global Medium Term Note Programme. A copy of the said Offering Circular is enclosed herewith. Further, it is also informed that the Offering Circular has been updated at (i) the Singapore Exchange Securities Trading Limited, (ii) the London Stock Exchange's International Securities Market (ISM), (iii) the India International Exchange (IFSC) Limited, and (iv) the NSE IFSC Limited.
REC seeks shareholders' nod to raise up to Rs 75,000 cr via bonds
REC Ltd will seek shareholders' approval to raise up to Rs 75,000 crore through issuance of bonds next week. The funds are proposed to be raised through issuance of debentures on private placement basis during a period of one year from the date of passing of the resolution, in one or more tranches, as per the AGM notice. The limit of Rs 75,000 crore shall be within the overall revised borrowing limit. The annual general meeting (AGM) of shareholders is scheduled for September 16, 2022. REC will also seek shareholders' approval to authorize the board to mortgage/create charge on immovable and/or movable properties of the company, for securing loan up to Rs 4,50,000 crore. REC Ltd - 532955 - Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate
In terms of Regulation 39(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, M/s Kfin Technologies Limited, vide letter dated September 1, 2022 has informed that one (1) share certificate has been reported as lost/not received by the investor as per details in the letter attached. REC Ltd - 532955 - Business Responsibility and Sustainability Reporting (BRSR)
BRSR for FY 2021-22 is attached.