Shareholders irked at CESE efficiency8217;

The shareholders of CESC Ltd, the RPG-group controlled power utility, today blamed the management for its inefficiency8217; which led to a situation of net loss of Rs 115 crore for the year 1997-98.

Venting their frustration at the company8217;s decision to skip dividend pay-out for the year, the shareholders expressed anguish at the way the company had borrowed resulting into a high interest burden.

At the company8217;s 20th annual general meeting here, the shareholders demanded the removal of the state government nominee and CPIM parliamentarian, Dipankar Mukherjee, from the board of CESC. They alleged that the government nominee always failed to turn up at the company8217;s AGMs.