Sterling & Wilson's promoters infuse Rs 418 crore to pare debt

Promoters of Sterling and Wilson Renewable Energy (SWREL) have injected ₹418 crore into the company to prevent being labeled as defaulters by lenders, according to sources familiar with the matter. The company failed to make payments of ₹135 crore by September 30, and if it had not cleared these dues by December 30, lenders would have been required to categorize it as a non-performing loan (NPA) as per the Reserve Bank of India's guidelines. The ₹418 crore funds, injected on November 30, will be used to settle all outstanding payments.

Disclaimer : Mytimesnow (MTN) lets you explore worldwide viral news just by analyzing social media trends. Tap read more at source for full news. The inclusion of any links does not necessarily imply any endorsement of the views expressed within them.