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| Exchange Disseminated Time 28/09/2015 15:12:05 | With reference to the earlier letter dated March 31, 2015, Jaiprakash Power Ventures Ltd has now informed BSE that the Company had paid US $ 50 million upto March 31, 2015 and now a further sum of US $ 75 million has been paid to the Bondholders upon sale of securities of Company’s subsidiary Himachal Baspa Power Company Limited (HBPCL) to M/s. JSW Energy Limited. It needs to be mentioned that the Company’s Baspa-II and Karcham Wangtoo Hydro-Power Plants were transferred and vested with HBPCL, pursuant to sanction of Scheme of Arrangement by the Hon'ble High Court of Himachal Pradesh at Shimla and such Scheme becoming effective on September 01, 2015.
Consequent upon the aforesaid payments to Foreign Currency Convertible Bondholders, the total outstanding Bonds stood reduced to US $ 101,421,203.31. Interest (@7% p.a.) on the said outstanding Bonds has been paid upto September 14, 2015. |
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