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MTNL Gets Shareholders' Approval To Raise Rs. 17,571 Crore Via Bonds, Borrow Rs. 35,000 Crore From Banks
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![MTNL Gets Shareholders' Approval To Raise Rs. 17,571 Crore Via Bonds, Borrow Rs. 35,000 Crore From Banks MTNL Gets Shareholders' Approval To Raise Rs. 17,571 Crore Via Bonds, Borrow Rs. 35,000 Crore From Banks](https://www.ceoinsightsindia.com/uploaded_images/newstransfer/2s45b.MTNL.jpg)
CEOInsights Team, 0
The resolution to raise the borrowing powers of the board from Rs.30,000 crore to Rs.35,000 crore received 99.85 percent votes in favour
According to the report, 99.85 percent shareholders voted in favour of the resolution to ‘offer or invite subscriptions for government guaranteed, unsecured, listed, redeemable Non-Convertible Debentures (NCDs) in the nature of bonds, in one or more series I tranches, aggregating up to Rs.17,571 crore on private placement basis’.
The resolution to raise the borrowing powers of the board from Rs.30,000 crore to Rs.35,000 crore received 99.85 percent votes in favour, the report said.