Upon sale of securities of Himachal Baspa Power Company to JSW Energy
Jaiprakash Power Ventures announced that the Company had paid US $ 50 million upto 31 March 2015 and now a further sum of US $ 75 million has been paid to the Bondholders upon sale of securities of Company's subsidiary Himachal Baspa Power Company (HBPCL) to JSW Energy . It needs to be mentioned that the Company's Baspa-II and Karcham Wangtoo Hydro-Power Plants were transferred and vested with HBPCL, pursuant to sanction of Scheme of Arrangement by the Hon'ble High Court of Himachal Pradesh at Shimla and such Scheme becoming effective on 01 September 2015.Consequent upon the aforesaid payments to Foreign Currency Convertible Bondholders, the total outstanding Bonds stood reduced to US $ 101,421,203.31. Interest (@7% p.a.) on the said outstanding Bonds has been paid upto 14 September 2015.
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