Ratnagiri Gas and Power approaches lenders for one-time loan settlement

The company has requested its lenders for the OTS, for which the lead lender has given in-principle approval with cut-off date considered as September 1, 2020

Ratnagiri Gas and Power (RGPPL), earlier known as Dabhol Power, has approached its lenders for a one-time settlement (OTS) of its outstanding debt worth Rs 1,461 crore. 

The thermal power producer has delayed servicing of its principal component in loan due in September, while it has paid the interest due for the month. 

RGPPL is promoted by NTPC (25.51 per cent), GAIL (25.51 per cent), MSEB Holding Company or MSEBHCL (13.51 per cent), and financial Institutions — IDBI Bank, SBI, ICICI Bank (with combined shareholding of 31.55 per cent). It was formed to take over the partially completed assets of the power