Bhadohi,Marriage death under suspicious circumstances, murder charges against husband, mother-in-law, father-in-law, Jeth Jethani including Chachiya father-in-law.
September 20, 2019
भदोही।करेंट की चपेट में आने समाचार पत्र विक्रेता की मौत, परिजनों ने मुआवजे की मांग को लेकर किया चक्का
September 20, 2019
New Delhi, April 22 (IANS) In a major step in the resolution process of the Infrastructure Leasing and Financial Services (IL&FS) group being undertaken by the new board, stare-run gas transportation company GAIL (India) is likely to buy 7 operating wind power plants of the debt-ridden group for a consideration of Rs 4,800 crore.
GAIL has emerged as the highest bidder for the wind power plants being operated under the special purpose vehicle (SPV) model with majority ownership of IL&FS Wind Energy Ltd. The total generation capacity of these plants is 874 MW at 12 sites spread across seven states.
The sale process of the wind energy assets of the debt-ridden group has reached an advanced stage. The process was launched through a public invitation for expressions of interest (EoI) on November 29, 2018.
GAIL’s offer of Rs 4,800 crore for 100 per cent enterprise value contemplates no hair-cut to the debt of the SPVs, aggregating to approximately Rs 3,700 crore.
The proposal has been unanimously approved by the Committee of Creditors of the IL&FS Wind Energy. The engagement with ORIX Japan, the other shareholder in the SPVs, with regard to the proposal is currently in progress. The closure is expected in three weeks.
The sale proceeds will be held in a trust for distribution to the relevant stakeholders, in accordance with the resolution framework filed with the National Company Law Appellate Tribunal (NCLAT) by the government.
The conclusion of the sale process will also be subject to the approval of Justice (retd.) D.K. Jain and the NCLAT in accordance with the resolution framework.
The new board, as part of the overall resolution process for the IL&FS group, has initiated the sale of a number of group assets, addressing a significant portion of the group’s debt.
The sale processes for assets, including education, funds, roads and thermal power plant, are currently underway, and binding financial bids are expected for these companies/businesses in stages by May 2019.