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 offered to pay Rs 1,200 crore in upfront cash to the lenders of VIPL which include Axis Bank, SBI, Bank of Baroda, PNB, Canara Bank, and Bank of Maharashtra.
The outstanding loan of the company as on March 31, 2022, is around Rs 2,200 crore.
Reliance Power's OTS offer is backed by Varde Partners of ...
Reliance Power offers Rs 1,200 crore to settle debt of VIPL power project
As banks' outstanding dues shot up to a whopping Rs 8.58 lakh crore, Maharashtra and Delhi top the list of defaulters, as per the latest official data of TransUnion CIBIL Ltd.
The figures show that as on March 31, 2022, there were 30,359 records of borrowers with defaults of Rs one crore and above, with recovery suits filed against them by various banks, totalling to outstanding of Rs 858,396.32 crore.
This amount has more than tripled since March 31, 2017 -- from 17,236 accounts ...
Maha, Delhi top defaulters as banks` dues mount to Rs 8.58 lakh crore
Key News
Bajaj Finserv reports 34% increase in Q4 net profit at Rs 1,346 crore
Bajaj Finserv Ltd on Thursday reported a 37 per cent jump in its consolidated net profit at Rs 1,346 crore for the fourth quarter ended in March 2022. The company had posted a net profit of Rs 979 crore during the corresponding period of 2020-21
The consolidated income during the March 2022 quarter increased to Rs 18,862 crore, as against Rs 15,387 crore in the corresponding period of the previous financia...
Key News - Bajaj Finserv Ltd, Bank of Maharashtra, SBI Life Insurance, Vedanta Limited, Radisson Hotels, Ltd By ARETE Securities