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Reliance Power settles its obligations of Rs 3872 crore as guarantor for Vidarbha Industries Power
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Reliance Power Limited (Reliance Power) on Tuesday announced that the entire obligations of the Company as a guarantor on behalf of Vidarbha Industries Power Limited (VIPL) stand fully settled resulting in release and discharge of Corporate Guarantee, Undertakings and all obligations and claims thereunder in relation to the outstanding debt of VIPL amounting to Rs 3872.04 crore.
Reliance Power has settled all disputes with CFM Asset Reconstruction Private Limited (CFM).
100% shares of VIPL have been pledged in favour of CFM against the release and discharge of Corporate Guarantee given by Reliance Power, it informed the exchanges.
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