Lenders of Vidarbha Industries Power also sign Inter-Creditor Agreement
Reliance Power announced that the company's 6 lenders have signed the lnter-Creditor Agreement (ICA) on 06 July 2019. As per the RBI Circular of 7 June 2019, 100% of its lenders have signed the ICA for the resolution of Reliance Power's debt.Reliance Power has now achieved standstill for 180 days as per the ICA. According to the RBI Circular, the Resolution Plan of Reliance Power is to be implemented within 180 days.
All 6 Lenders of Reliance Power's subsidiary Vidarbha Industries Power (VIPL), 600 MW Butibori Power Project near Nagpur in Maharashtra, have also signed ICA giving VIPL a 180day timeframe to implement a resolution plan.
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