Ready to help revive Adani, Tata, Essar power projects in Gujarat: Lenders

Lenders will have to take Rs 100-bn haircut, cut rates

Indian lenders, who have filed debt recovery suits under the Insolvency and Bankruptcy Code against 977 companies in the past two years, have said the three Gujarat-based loss-making power projects -- Coastal Gujarat Power in Mundra, Adani Power Mundra and Essar Power -- should be revived with some efforts by all stakeholders and not become insolvent.    

In their submissions before a high-powered committee headed by former Supreme Court judge RK Agarwal, lenders said the net worth of these projects is already wiped off and these projects are primarily managing to survive on additional fund infusion by their promoters.