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| Exchange Received Time 23/06/2017 17:11:42 Exchange Disseminated Time 23/06/2017 17:11:49 Time Taken 00:00:07 | Pursuant to Reg 30 of the SEBI (LODR) Regulations, 2015 we would like to intimate that the Joint Lenders' Forum (JLF) of the Company at its meeting held today i.e. on June 23, 2017 (Reference Date) has taken a decision that the Loan account of the Company will be taken up for consideration under the 'Scheme for Sustainable Structuring of Stressed Assets (S4A Scheme) introduced by RBI vide its Circular no. RBI/2015-16/422 dtd June 13, 2016. Accordingly, the Bankers shall evaluate and formulate the Resolution Plan as envisaged in the Scheme for implementation.
We would further like to inform that the proposal for Sale of Co-generation power business of the Company as was initiated earlier primarily for the purpose of utilizing the sale proceeds towards repayment/prepayment of Company's debts, as intimated earlier on March 22, 2017 for which the shareholders of the Company has passed the requisite resolutions on May 01, 2017, has consequently been shelved. |
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