SAIL members okay move to undertake material related transactions with JVs

Shareholders of SAIL have passed a resolution to authorise its board to undertake 'material-related party transactions' up to Rs 9,000 crore with NTPC-SAIL Power Company, an exchange filing said Thursday. NTPC-SAIL Power Company is a joint venture between power generation company NTPC and steel maker SAIL. The resolution was passed by the members of the company at its 52 Annual General Meeting (AGM) in the national capital. The resolution was passed "to authorise the board to carry out the material related party transactions with NTPC-SAIL Power Company for an aggregate value of up to Rs 9,000 crore from April 1, till the AGM to be held in FY26," SAIL said in the filing. Another resolution was passed to authorise the board to carry out material related party transactions with Bokaro Power Supply Company for an aggregate value of up to Rs 4,500 crore from April 1, 2024 till FY26. Bokaro Power Supply Company is a joint venture between DVC and SAIL. The shareholders also passed a ..