Swarajya Logo
Swarajya Logo
Politics States Economy Society Business Culture Infra Defence World Books Ideas Science Technology Heritage Archives Legal Movies Sports
  • Our Views
    Politics States Economy Society Business Culture Infra Defence World Books Ideas Science Technology Heritage Archives Legal Movies Sports
  • Magazine
  • Store

About Swarajya

Swarajya is a publication by Kovai Media Private Limited.

Swarajya - a big tent for liberal right of centre discourse that reaches out, engages and caters to the new India.

editor@swarajyamag.com

Useful Links

  • About Us
  • Subscriptions Support
  • Editorial Philosophy
  • Press Kit
  • Privacy Policy
  • Terms of Use
  • Code of Conduct
  • Plagiarism Policy
  • Refund & Cancellation Policy

Useful Links

  • About Us
  • Subscriptions Support
  • Editorial Philosophy
  • Press Kit
  • Privacy Policy
  • Terms of Use
  • Code of Conduct
  • Plagiarism Policy
  • Refund & Cancellation Policy

Participate

  • Contact Us
  • Write for us
  • Style Guide
  • Jobs

Stay Connected

  • Artboard 2 Copy 6Created with Sketch.
    Artboard 2 Copy 10Created with Sketch.
    Artboard 2 Copy 7Created with Sketch.
    Artboard 2 Copy 9Created with Sketch.
  • Andriod Logo
  • IOS Logo

Insta

Jaypee’s Bara Project Becomes The First FInancially Stressed Power Asset To Be Resolved 

Swarajya StaffThursday, August 30, 2018 12:18 pm IST
Power distribution lines 
Power distribution lines 
Power distribution lines 

Resurgent Power – a joint venture company of Tata Power with ICICI Ventures received Letter of Intent (LoI) from the lenders consortium led by State Bank of India (SBI) to buy the financially hard pressed Jaiprakash Associates’ 1,980 MW Bara (Prayagraj) power project, reports Business Standard.

The plant located in Uttar Pradesh becomes the first stressed power asset to find a buyer.

Tata Power in a statement informed that Resurgent has received Letter of Interest (LoI) for 75.01 per cent stake in Prayagraj Power Generation Company Limited (PPGCL) which operates the Bara project.

JSW Energy was among the other companies in the fray to buy the project. Lenders offered 89.47 per cent stake in the company at face value of Rs 10 each.

“After our due diligence, we found that Prayagraj Power fits in our overall scheme of growth. It has all approvals and clearances in place along with long-term PPA and fuel supply agreement. It will be a value-adding asset in Resurgent Power’s portfolio.” Praveer Sinha, Chief Executive Officer and Managing director, Tata Power was quoted saying.

Tags
SBI
Bank NPA's
Tata Power
Bank stressed assets
NPA resolution

Comments ↓

An Appeal...


 

Dear Reader,

 

As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.

 

Our business model is you and your subscription.  And in challenging times like these, we need your support now more than ever.

 

We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.

 

Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.

Get Swarajya in your inbox.


Magazine


Swarajya Magazine Cover Image
Merchandise

Merchandise


    Politics

    Lok Sabha MP Danish Ali, Who Protested Against Mahua Moitra's Expulsion, Suspended By BSP For Indulging In 'Anti-Party Activities'

    Lok Sabha MP Danish Ali, Who Protested Against Mahua Moitra's Expulsion, Suspended By BSP For Indulging In 'Anti-Party Activities'

    Swarajya Staff
    11h

    MoS External Affairs Meenakshi Lekhi Denies Signing Lok Sabha Reply On Designating Hamas As Terror Organisation

    Swarajya Staff
    14h

    Hadiya, Woman At Centre Of Kerala Conversion Controversy, Says She Has Remarried

    Swarajya Staff
    15h

    Economy

    Enough Of Big Bang Reforms? No Major Announcements In Next Budget, "Wait Till July 2024", Says Nirmala Sitharaman

    Enough Of Big Bang Reforms? No Major Announcements In Next Budget, "Wait Till July 2024", Says Nirmala Sitharaman

    Nishtha Anushree
    3d

    ₹58,378 Crores! Govt Set To Open Taps On Additional Welfare Spending With 2024 In Mind

    Swarajya News Staff
    3d

    India Anticipated To Be Fastest Growing In Next Three Years, Set to Become Third Largest Economy By 2030: S&P

    Nishtha Anushree
    5d

    Defence

    1971 War: How The Indian Army Crossed The Mighty Meghna River In East Pakistan On Its March Towards Dhaka  

    1971 War: How The Indian Army Crossed The Mighty Meghna River In East Pakistan On Its March Towards Dhaka  

    Prakhar Gupta
    8h

    On This Day, In 1971, Indian Navy Once Again Targeted Karachi While Airlift At Meghna Put India Ahead In The Race Towards Dhaka

    Ujjwal Shrotryia
    13h

    On This Day, In 1971, Indian Military Keeps Up Pressure: With Intense Armour Clashes In Western Pakistan, While Second Naval Raid On Karachi Looms

    Ujjwal Shrotryia
    1d

    World

    After Becoming Longest-Serving President, Putin Announces Running For Election In Russia Again

    After Becoming Longest-Serving President, Putin Announces Running For Election In Russia Again

    Nishtha Anushree
    1d

    Maldives Skips Key Indian Ocean Security Meet With India And Other Neighbours, Opts For Chinese Forum Amidst Growing Tilt

    Swarajya Staff
    2d

    Azerbaijan President Accuses India And France Of Fuelling Armenia's Fire Of 'Revenge' For Loss In Nagorno-Karabakh War

    Swarajya Staff
    2d

    Culture

    From Jodhpur To Ayodhya On Bulls, Preserved Through Herbs: The Story Of Ghee To Be Used For Ram Lalla's First Aarti

    From Jodhpur To Ayodhya On Bulls, Preserved Through Herbs: The Story Of Ghee To Be Used For Ram Lalla's First Aarti

    Nishtha Anushree
    20h

    ‘Garba Of Gujarat’ Declared As Intangible Heritage By UNESCO

    Arun Kumar Das
    3d

    Gujarat's Garba Is Now In List Of UNESCO Intangible Cultural Heritage of Humanity

    Swarajya News Staff
    3d
    States

    infrastructure


    Arun Kumar Das
    1

    Indian Railways To Run 4,500 Vande Bharat Trains By 2047, Says Union Minister Scindia

    2 Mins Read
    Arun Kumar Das
    2

    Path To Prosperity: National Tourism Policy Paves The Way For Economic Boost

    1 Mins Read
    Amit Mishra
    3

    Gurugram: Haryana Government To Incorporate 'New Company' For Millennium City Metro Corridor

    2 Mins Read
    Amit Mishra
    4

    Ayodhya Airport To Be Ready By December End, Says Jyotiraditya Scindia

    2 Mins Read