RPower shareholders reject special resolution to monetise asset

Reliance Power (RPower) shareholders have turned down a special resolution to monetise its assets.

All special resolutions are required to be approved by 75 per cent or more votes of shareholders, while only 72.02 per cent of votes were cast in favour of this resolution, and 27.97 per cent voted against it. The special resolution is an enabling resolution empowering the board of directors to monetise assets and businesses to achieve the stated objective of deleveraging and reducing debt and liabilities of the company, as also to unlock the value of its various businesses and assets.