JP Power availed this loan as an advance payment for the proposed sale of its power unit to JSW Energy in 2016. The deal, however, was later called off
Under the pact, an amount of Rs 351.77 crore will be converted into equity shares of JPVL with a face value of Rs 10 each and Rs 280 crore will be written off, JSW Energy said in a BSE filing
For the year ended March 31, the company reported a consolidated net loss of Rs 16.90 billion as compared with Rs 12.93 billion in the 2016-17 period