Grid India approves Rs 4.74 crore dividend at 15th AGM

New Delhi: Grid Controller of India Limited (Grid-India), formerly known as Power System Operation Corporation Limited, successfully concluded its 15th Annual General Meeting (AGM) on September 18. The meeting was conducted in hybrid mode from the company's registered office in New Delhi.

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Grid-India has been operating as an independent government company since January 2017. The AGM was attended by several senior officials, including its Chairman and Managing Director (CMD) SR Narasimhan, Director (Human Resources) Paresh R Ranpara, Director (System Operation) RK Porwal, Director (Finance) & CFO Sanjay Mehrotra, Director (Market Operation) SC Saxena along with Government Nominee Directors, Company Secretaries, and representatives from the Ministry of Power. Statutory and Secretarial Auditors were also present.

During the meeting, the members approved several key decisions. These included the payment of a final dividend of Rs 0.47 crore, in addition to an interim dividend of Rs 4.27 crore that had already been paid to the Ministry of Power. The AGM also saw the approval of the capitalization of the company’s reserves to issue bonus shares. Furthermore, members agreed to create a charge on a commercial building for the company’s new office as collateral for a loan taken by the company.

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