TII informed the BSE today that pursuant to the terms and conditions of the agreement, CG Power's resolution of outstanding obligation towards its lenders, in accordance with the terms set out in Reserve Bank of India (Prudential Framework for Stressed Asset) Directions, 2019, has been completed by payment of the upfront consideration of Rs 650 crore to the Lenders as compromise settlement.
A counter guarantee has also been submitted for non-fund based facilities extended by the lenders to CG Power, and towards issuance of five-year unrated, unsecured, unlisted, non-convertible debentures aggregating to Rs 200 crore.
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