I got few emails from retail Investors of GTL Infrastructure limited and they have common questions which I shall reply in details shortly with hard facts and figures.But the basic questions are:
1.Why are the main Lenders (Public Sector Banks)who now own 67% of Equity Share Capital are just sleeping and allowing Directors to charge hefty Sitting fee and remuneration for attending Board Meetings and Board has just become useless as it failed to take any timely progressive steps to save the Company.
Details of Sitting fee charged by Directors as per Annual Report of the Company for 2017-18 is Rs.191 Lakhs.(Including CNIL Directors.)
2.Why is company fighting legal case in Supreme court against Canara bank when it knows that it needs to opt for NCLT finally as its financial condition has become worst and Since Aug 2018 as per Company's own disclosure to Stock Exchanges on Dec 13 2018 that it has stopped repayment of Overdue debt and Interest payments.? (Including Bonds)
3.Why Directors are not coming forward for their concrete plans to save the Company.?
There are many questions now being raised by Retails Investors although they just hold around 4.5% of the Total Capital??? but they need answers.
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