SP Group exits one-time resolution plan; repays Rs 12,450 cr to lenders

SPCPL's one-time resolution of debt was unanimously implemented on March 31, 2021 by all the lenders of SPCPL after construction activities came to a grinding halt due to Covid

Shapoorji Pallonji and Company Private, the holding company of SP Group, has repaid Rs 12,450 crore to its lenders and exited the one-time resolution (OTR) plan earlier than its scheduled deadline. This will be the first OTR, which has been fully repaid within a year of implementation.

SPCPL’s one-time resolution of debt was unanimously implemented on March 31, 2021 by all the lenders of SPCPL after construction activities came to a grinding halt due to the Covid pandemic and lockdowns had hit the construction activities all over India. SPCPL's resolution plan had sought a two-year extension of timelines to repay