Gives rights to lenders of Jindal Power for conversion of loan
Jindal Steel & Power announced that the Board of Directors of the Company has, through resolution passed by circulation on 28 December 2015 approved giving of the right in terms of RBI circular on the Strategic Debt Restructuring Scheme dated 08 June 2015, to the lenders of Jindal Power (JPL) for its 1200 MW (2X600 MW) thermal power project situated at Tamnar, District Raigarh, Chhattisgarh ("Phase III Project") for conversion of their loan into equity share capital of JPL in the event of default.Powered by Capital Market - Live News