Reliance Power signs inter-creditor agreement with six lenders

All 6 Lenders of Reliance Power’s subsidiary Vidarbha Industries Power Limited (VIPL), 600 MW Butibori Power Project near Nagpur in Maharashtra, have also signed ICA giving VIPL a 180—day timeframe to implement a resolution plan, the company said in the filing.

Jul 12, 2019 09:07 IST India Infoline News Service

Reliance Power
Reliance Power said in the filing that 6 lenders have signed the lnter-Creditor Agreement (ICA) 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 (VIPL), 600 MW Butibori Power Project near Nagpur in Maharashtra, have also signed ICA giving VIPL a 180—day timeframe to implement a resolution plan, the company said in the filing.

Reliance Power Ltd is currently trading at Rs4.23, up by Rs0.02 or 0.48% from its previous closing of Rs4.21 on the BSE.

The scrip opened at Rs4.21 and has touched a high and low of Rs4.34 and Rs4.21 respectively.

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