Under the ‘plan of configuration’, which includes the company, its shareholders and creditors, Suzlon will carry out the reduction and reorganization of energy reserves.
Suzlon plans to adjust its accumulated damage by reducing and rearranging, especially in general reserves to maintain credit balance.
This means that Suzlon will use the existing reserves (built during profitable years) to clear past losses in the earning account.
The company said it would result in a cleaner balance sheet, which could improve the ability to pay the company’s dividend and attract investors.
The following legal requirements are complied with:
1) The company must adhere to detailed ads, in which the reserve will be organized, the history of the loss and reserves, the logic for the plan, the logic for the plan, the impact on the shareholders, the cost-benefit analysis, and the balance sheets pre and the post-set.
2) The company will have to make sure that the additional information submitted by the company is displayed on Suzlon’s websites and exchanges after filing the plan with the stock exchange.
)) Except for the regulators/ officers/ tribunal, the company involved in the proposed plan will have to make sure that the draft scheme will not make any changes to the draft scheme filing a draft scheme in the draft scheme.
)) The company should ensure compliance with SEBI circulars issued periodically.
)) The company should ensure that the financial people are not more than 6 months old in the plan to consider.
Also Read: Vedanta Investor Confusion: Dived King, Popper Return; Time to buy bye or say?
Suzlon shares ended at Rs 65.65 on the NSE today, rising 0.38 or 0.58% over Thursday’s closed price.
(Disclaimer: The recommendations, suggestions, opinions and views given by experts are their own. This does not represent the views of the economic time)
(Now you can subscribe to our Etmarkets WhatsApp channel)