Zubana, ya the only one doing the second guessing here. PEN has made it quite clear financing will be a combination of debt & equity. They have shown their hand with equity requirements.
Only the deluded would be hanging their hats on a special resolution, 75% majority, to get the extra 10%...no guarantees here.
The 15% is a known…factored in.
... the essence of the rule is in the making of 'Availability'
Cheers,
Ab’s
something’s up!, page-11
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