A consortium of lenders has asked the Rama Prasad Goenka (RPG) group, promoters of the Kolkata-based power utility Calcutta Electric Supply Corporation (CESC), to pledge its 42 per cent stake in the flagship.
The consortium comprises domestic and foreign financial institutions and CESC's overseas bond holders.
The move is a pre-condition for restructuring the finances of the company, which has debts of Rs 3,300 crore. However, the Goenkas were willing to pledge only a part of their equity in CESC, officials with the lenders said. The promoters have also been asked to infuse Rs 50 crore into the company.