28-September-2020
Corporate News
 
Shapoorji Pallonji Group falters again on repayments to Sterling & Wilson Solar
16-Sep-2020

The Shapoorji Pallonji group has told group company Sterling & Wilson Solar Ltd (SWSL) that it is unable to repay pending dues to the tune of over Rs.1,000 crore that were due in June and September, the company informed stock exchanges on Wednesday. The repayment is part of dues worth Rs.2,644 crore that the promoters owe to SWSL. The loan was to be repaid within 90 days of Sterling and Wilson Solar’s IPO, which ended mid-November 2019. The promoters had sought an extension for repaying the loans, blaming “significant and rapid deterioration in the credit markets. The promoters have so far repaid Rs.1,500 crore the company, with Rs.500 crore due on 30 June and rest due by 30 September.

News Source:- https://www.livemint.com/companies/news/shapoorji-pallonji-group-falters-again-on-repayments-to-sterling-wilson-solar-11600232812880.html