Reliance Power has defaulted on payment of principal and interest totaling to Rs 300.22 crore. The default was on loans taken from Axis Bank, Yes Bank, IDBI Bank, and Lakshmi Vilas Bank.
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.