GAIL seeks shareholders nod for green energy foray
GAIL India plans to invest in start-ups that are in core and non core business areas. The core business areas the company intends to invest are natural gas, petrochemicals and energy, and others and non-core business areas are health, social and environment, safety and security and others.
The company plans to invest in these ventures either directly or indirectly. The investment will be through either special purpose vehicle (SPV), alternative investment fund (AIF), fund of funds (FoF) or trust.
For this the company is seeking shareholders approval to insert six new sections in the main objects clause of the memorandum of association. The company's 34th annual general meeting is scheduled to be held on September 11.
@EPC World Media