Indian Renewable Energy Development Agency Limited
Indian Renewable Energy Development Agency Ltd was incorporated as a fully owned Govt. of India enterprise under the administrative control of the MNRE. Furthermore, the company was notified as a public financial institution and is also registered as a non-deposit taking NBFC with the RBI.The company was established for the promotion, development and commercialisation of new and renewable sources of energy and…
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- Investor Meet6
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IREDA will hold its 39th Annual General Meeting to approve annual financial results. Agenda includes a share subdivision, increased authorized capital, and bonus share issuance. These are key actions for shareholder value.
Company fined Rs. 0.14 Cr by exchanges for board composition non-compliance. Its Board will request the administrative ministry to expedite independent director appointments and seek a fine waiver, citing external control.
IREDA faced fines of ₹0.14 Cr each from NSE and BSE (total ₹0.28 Cr) for non-compliance with board composition rules. The company notes director appointments are by the Government via MNRE and is working towards compliance.
IREDA's Board sees a new Government Nominee Director, Shri J.V.N Subramanyam, Joint Secretary, MNRE. This appointment reflects ongoing oversight from the Ministry of New and Renewable Energy.
IREDA declared Gensol Engineering and its subsidiary's accounts as fraud due to misappropriation/forgery. Total outstanding loans are ₹672.74 Cr. The company has already provisioned 85% of this amount.