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| Exchange Disseminated Time | Bonds mature on February 13, 2015, Jaiprakash Power Ventures Ltd has informed BSE that the Company has entered into a standstill agreement dated February 12, 2015 (the "Standstill Agreement") with certain holders of the Bonds that collectively hold 76.09% per cent, of the aggregate principal amount of the Bonds outstanding as of today. Pursuant to the Standstill Agreement, the standstill period extends until February 27, 2015.
The Standstill Agreement summarises the key terms on which the parties have reached in-principle agreement in relation to effecting a rescheduling of the Company's redemption obligations in respect of the Bonds (including the extension of the maturity date) and which is to be documented in, inter alia, a further standstill and voting agreement, subject to certain conditions. The terms of the aforementioned rescheduling are subject to receipt of approval of the Reserve Bank of India. |
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