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Reliance Power Ltd signs Inter-Creditor Agreement with 6 lenders

Power News - Published on Wed, 17 Jul 2019

Image Source: The Economic Times
Reliance Power Ltd's 6 lenders have signed the Inter-Creditor Agreement on July 6, 2019. As per the RBI Circular of June 7, 2019, 100% of its lenders have signed the ICA for the resolution of Reliance Power's debt. Reliance Power has now achieved standstill for 180 days as per the ICA. According to the RBI Circular, the Resolution Plan of Reliance Power is to be implemented within 180 days.

All 6 Lenders of Reliance Power's subsidiary Vidarbha Industries Power Limited, 600 MW Butibori Power Project near Nagpur in Maharashtra, have also signed ICA giving VIPL a 180-day timeframe to implement a resolution plan.

Source :

Posted By : Rabi Wangkhem on Wed, 17 Jul 2019
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