Consequently, NTPC's stake in RGPPL increases to 60.98%
NTPC has executed agreement for a Composite Resolution Plan with lenders of Ratnagiri Gas & Power (RGPPL), a Joint Venture Company of NTPC engaged in generation of Power, and RGPPL on 31 December 2020, wherein outstanding debt liabilities of RGPPL have been settled through One Time Settlement (OTS) by NTPC. As a part of the Resolution Plan, 35.47% of equity held by lenders (IDBI, ICICI, SBI, IFCI and Canara Bank) in RGPPL have been transferred to NTPC.Consequent upon the resolution plan of RGPPL, NTPC equity shareholding in RGPPL has increased from 25.51% to 60.98% on 31 December 2020.
Accordingly, RGPPL has become a subsidiary company of NTPC with effect from 31 December 2020.
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