According to reports, this may enable IL&FS to repay a debt of around ₹1,000 crore.
IPRWL was set up to meet water requirements of the 15 MTPA Paradip Refinery Project developed by IOC in Odisha.
IL&FS, which is paring its debt through asset resolution, has not received consent from IOCL for sale of its stake in IPRWL.
It had approached the National Company Law Appellate Tribunal (NCLAT), which is supervising the process, to direct IOCL to either acquire 100% shareholding in IPRWL at a fair valuation or grant its consent as per the terms of the BOOT agreement and the RFP so as to enable IL&FS to sell it.
Bu hikaye Financial Express Kochi dergisinin December 01, 2024 sayısından alınmıştır.
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Bu hikaye Financial Express Kochi dergisinin December 01, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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