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Axis Bank files CIRP against Reliance Power’s arm

22 Jan 2020 Evaluate

Axis Bank has filed for Corporate Insolvency Resolution Process (CIRP) against Reliance Power’s subsidiary -- Vidarbha Industries Power for a claim of Rs 553.28 crore. The company is engaged with all its lenders to arrive at a suitable resolution outside CIRP.

Reliance Power, a part of the Reliance Group, is India’s leading private sector power generation and coal resources company. The company has the largest portfolio of power projects in the private sector, based on coal, gas, hydro and renewable energy.

Peers
Company Name CMP
NTPC 317.00
Tata Power 345.00
Adani Power 196.60
Power Grid Corpn. 253.40
Adani Energy Solut. 1320.00
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