{"id":371950,"date":"2020-09-05T08:38:41","date_gmt":"2020-09-05T03:08:41","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=371950"},"modified":"2020-09-05T09:06:17","modified_gmt":"2020-09-05T03:36:17","slug":"rec-seeks-shareholders-nod-to-raise-borrowing-limit-to-rs-4-5-trillion","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/rec-seeks-shareholders-nod-to-raise-borrowing-limit-to-rs-4-5-trillion\/","title":{"rendered":"REC seeks shareholders&#8217; nod to raise borrowing limit to Rs 4.5 trillion"},"content":{"rendered":"<p>State-run REC on Friday said it is seeking shareholders&#8217; approval to raise its overall borrowing limit Rs 4.5 lakh crore from the existing Rs 3.5 lakh crore. <\/p>\n<p>The company&#8217;s 51st annual general meeting (AGM) is scheduled to be held on September 25. <\/p>\n<p>&#8220;The consent of the Members is sought for increasing the borrowing limit from Rs 3,50,000 crore to Rs 4,50,000 crore to cover the further requirement of borrowings,&#8221; as per the AGM notice. <\/p>\n<p>Current outstanding together with projected borrowings during 2020-21 is likely to exceed overall borrowing limit of Rs 3.5 lakh crore, the notice said. <\/p>\n<p>The net amount of borrowings of the company as on March 31, 2020 was Rs 2,80,116 crore and a sum of Rs 1,10,000 crore is likely to be borrowed in 2020-21 for lending activities.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>State-run REC on Friday said it is seeking shareholders&#8217; approval to raise its overall borrowing limit Rs 4.5 lakh crore from the existing Rs 3.5 lakh crore. The company&#8217;s 51st annual general meeting (AGM) is scheduled to be held on September 25. &#8220;The consent of the Members is sought for increasing the borrowing limit from Rs 3,50,000 crore to Rs 4,50,000 crore to cover the further requirement of borrowings,&#8221; as per the AGM notice. Current outstanding together with projected borrowings during 2020-21 is likely to exceed overall borrowing limit of Rs 3.5 lakh crore, the notice said. The net amount [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,232],"tags":[],"class_list":["post-371950","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-power-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/371950","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=371950"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/371950\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=371950"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=371950"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=371950"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}