ALSO READReligare auditors issue qualified opinion on dismal FY17 results Piramal Enterprises to raise up to Rs 125 cr via non-convertible debentures Religare to exit Religare Health Insurance for Rs 1,040 cr Religare Enterprises locked in 10% upper circuit on heavy volume Indian PE firm True North to acquire Religare Health Insurance
Religare Enterprises has sought shareholders approval to raise Rs 500 crore through issuance of non-convertible debentures.
The company has proposed special resolution at its annual general meeting on September 21, 2017 for raising Rs 500 crore through issue of secured/unsecured redeemable non-convertible debentures, in one or more series/tranches, Religare Enterprises said in a BSE filing.
The other proposal is to appoint a director in place of Harpal Singh who retires from office by rotation. Singh being eligible for post has offered himself for re-appointment.
Another proposal is to approve change of terms of appointment of Shivinder Mohan Singh, Non-Executive Vice Chairman of the company from "Director not liable to retire by rotation " to "Director liable to retire by rotation" is also listed on the agenda of the AGM.