Suzlon Energy announced that State Bank of India, the lead bank of the consortium of lenders, has, vide its email dated 29 March 2020, conveyed that the resolution plan of the Company and its certain identified subsidiaries formulated under the Reserve Bank of India (Prudential Framework for Resolution of Stressed Assets) Directions, 2019, was approved by it and subsequently circulated to the consortium of lenders, was put to vote by the consortium of the lenders and which has since been approved by 100% of lenders by value, and 100% of lenders by numbers.
Thus, the Resolution plan has been unanimously approved by the consortium of lenders.
The Company is working on finalising various definitive agreements with the lenders.
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