GMR Warora Energy account standard, no impact of RBI circular: GMR Infra
GMR Infrastructure today said its arm GMR Warora Energy Ltd (GWEL) does not have any pending dues with any of its lenders and is not affected by the RBI's February 12 circular.
"For GWEL there are no over dues with any of its lenders as on date and the account is "STANDARD" with all lenders," the company said in a filing to BSE.
"GMR Warora Energy Ltd (GWEL) will not be affected by the RBI Circular dated February 12, 2018 as GWEL has cleared all dues to the existing lenders as on August 27, 2018," it said.
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Reserve Bank had come out with 'Resolution of Stressed Assets-Revised Framework' on February 12, 2018.
State Bank of India managing director Arijit Basu had recently said that about 7-8 power sector projects worth Rs 17,000 crore are expected to be resolved soon as lenders are nearing consensus on these.
There are about 34 stressed power projects and the combined value of their outstanding loans is about Rs 1.74 lakh crore.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)