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Reliance Power Signs ICA With Lenders

Reliance Power said its six lenders have signed the lnter-Creditor Agreement (ICA) on July 6, 2019.

As per the RBI Circular, 100 percent of its lenders have signed the ICA for the resolution of Reliance Power’s debt.

"Reliance Power has now achieved standstill for 180 days as per the ICA. According to the RBI Circular, the Resolution Plan of company is to be implemented within 180 days. All 6 Lenders of Reliance Power’s subsidiary Vidarbha Industries Power Limited (VIPL), 600 MW Butibori Power Project near Nagpur in Maharashtra, have also signed ICA giving VIPL a 180—day timeframe to implement a resolution plan," company said.

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Reliance Power Signs ICA With Lenders

Reliance Power said its six lenders have signed the lnter-Creditor Agreement (ICA) on July 6, 2019.

As per the RBI Circular, 100 percent of its lenders have signed the ICA for the resolution of Reliance Power’s debt.

“Reliance Power has now achieved standstill for 180 days as per the ICA. According to the RBI Circular, the Resolution Plan of company is to be implemented within 180 days. All 6 Lenders of Reliance Power’s subsidiary Vidarbha Industries Power Limited (VIPL), 600 MW Butibori Power Project near Nagpur in Maharashtra, have also signed ICA giving VIPL a 180—day timeframe to implement a resolution plan,” company said.