 "Power Transmission, Power lines")
Nabha Power, a subsidiary of L&T Power Development, has received shareholders' approval to convert part of its debt of Rs 5,341 crore into equity in case of a default in future, according to filings with the government authorities.
L&T was earlier planning to sell the Punjab-based unit but as there is a delay in finding a buyer, the company has asked the shareholders for permission to convert part of the debt without giving any timeline to do the same.
Nabha Power made a profit of Rs 302 crore for the fiscal year ended March this year on revenues of Rs
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