Adani Transmission Limited will seek shareholders’ approval for the proposed related-party transactions worth up to Rs 106 billion in 2022-23.
As per the notice of the company’s annual general meeting, three resolutions for the purpose of related party transactions during 2022-23 are listed on the agenda. One such listed transaction will be with Adani Enterprises Limited (AEL) for purchase of power, coal, rendering of service, receipt of service and other transactions for business purpose from or to AEL worth up to Rs 25 billion during 2022-23. Another such transaction will be with Adani Infra (India) Limited for repayment of unsecured perpetual equity instrument along with distribution on unsecured perpetual equity instrument; providing/taking financial assistance in the form of revolving interest bearing inter corporate deposit(s)/loans, in one or more tranches worth up to Rs 52 billion during 2022-23. There will be another transaction with Adani Properties Private Limited for providing/taking financial assistance in the form of revolving interest bearing inter corporate deposit(s)/loans, in one or more tranches worth Rs 29 billion in 2022-23.