Brief: JSW Energy Enters Deal With Jaiprakash Power Ventures To Re-Structure Outstanding 7.52 Bln Rupees Owed By JPVL

Jaiprakash Power Ventures

02/01/2020 11:48

Jan 2 (Reuters) - JSW Energy Ltd  JSWE.NS :
    * ENTERS AGREEMENT WITH JAIPRAKASH POWER VENTURES TO
RE-STRUCTURE
PRINCIPAL OUTSTANDING AMOUNT OF 7.52 BILLION RUPEES OWED BY JPVL
TO CO
    * 3.52 BILLION RUPEES TO BE CONVERTED INTO EQUITY SHARES OF
JPVL
    * COMPANY HAS ALREADY MADE PROVISION FOR 5.74 BILLION RUPEES
IN
MARCH QUARTER 2018 FOR RESTRUCTURING
    * OUT OF BALANCE OUTSTANDING PRINCIPAL AMOUNT OF 4 BILLION
RUPEES,
2.80 BILLION RUPEES TO BE WRITTEN OFF
    * JPVL AND CO AGREED TO WAIVE RESPECTIVE RIGHTS TO RECEIVE
ANY
PAYMENTS FROM EACH OTHER
    * JPVL, CO RELEASE EACH OTHER FROM LIABILITIES OF SECURITIES
PURCHASE DEAL FOR TRANSFER OF KARCHAM, BASPA HYDRO ASSETS FROM
JPVL TO CO
    * DEAL WILL RESULT IN REVERSAL OF 1.77 BILLION RUPEES OF
LIABILITIES PAYABLE TO JPVL IN COMPANY’S BOOKS

Source text: https://www.bseindia.com/xml-data/corpfiling/AttachLive/aad62124-0de0-4974-920b-cfbc4a36ebb6.pdf
Further company coverage:  JSWE.NS 

 ((Reuters.Briefs@thomsonreuters.com;))