Reliance Power offers Rs 1,200 crore to settle debt of VIPL power project
Reliance Power has made a Rs 1,200 crore one-time settlement (OTS) offer to the lenders of its subsidiary, Vidarbha Industries Power Ltd (VIPL), to settle the debt.
Reliance Power has made a Rs 1,200 crore one-time settlement (OTS) offer to the lenders of its subsidiary, Vidarbha Industries Power Ltd (VIPL), to settle the debt.
Reliance Power, in a stock exchange disclosure, has informed that the Piramal Capital and Housing Finance has withdrawn the application made against Reliance Power Ltd. under section 7 of the Insolvency and Bankruptcy Code 2016.
The issue of shares and warrants to Reliance Infrastructure (RInfra) aims to reduce Reliance Power's standalone debt by Rs 1,325 crore.
The Board approved seeking approval of the members of the Company for the above proposal through Postal Ballot.
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