Larsen & Toubro (L&T) has received its shareholders’ approval to raise around Rs 9,600 crore through the issuance of various securities, including equity shares and convertible bonds. This was among the proposals approved by the shareholders during the company’s annual general meeting held on September 9, 2015.
Among other proposals, the company has got approval for payment of commission to non-executive directors. The amount to be paid as commission should not exceed the limit of one per cent of the net profits of the company per annum in aggregate.
Larsen & Toubro is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services with over $15 billion in revenue. It operates in over 30 countries worldwide.
