State-run power equipment maker Bharat Heavy Electricals (BHEL) today said it board has deferred a decision on the plan to establish a non-banking finance company (NBFC).
"Agenda concerning the report of the consultant regarding formation of a non-banking finance company has been deferred," BHEL said in a regulatory filing today.
The company, last week, had said its board would meet on March 15 to consider the report of the consultant regarding formation of a non-banking finance company.
BHEL had appointed financial services firm Crisil to advise the company on floating the NBFC and the related report has already been submitted.
Earlier, sources had said that a final decision is likely in April or after that.
The planned NBFC would be mainly to fund projects in the power sector.
Meanwhile, BHEL's board meeting held today, announced an interim dividend of Rs 13.25 per equity share for the financial year 2010-11.
"The interim dividend shall be paid/dispatched on March 31, 2011," it said.
The company has appointed S Ravi as a part-time non-official director on its board, effective from March 10.
Shares of the company closed at Rs 1,921.90, down 2.67% on the Bombay Stock Exchange.
