Refex Renewables Settles Insolvency Petition, Completes Restructuring

Refex Renewables & Infrastructure Ltd has announced the full and final settlement of an insolvency petition filed by SILRES Energy Solutions Private Limited against its subsidiary, Sherisha Solar LLP (SS-LLP). As part of the settlement, SS-LLP paid ₹16.51 crore against a loan liability of ₹33.39 crore. Consequently, SILRES will withdraw its petition, and SS-LLP will withdraw its counter-application. The company also filed an oppression and mismanagement petition against SILRES, which will be withdrawn. The settlement also involves the transfer of subsidiary Ishaan Solar Power Private Limited to SILRES for ₹3.92 crore, the transfer of 0.064% stake in SILRES to Avyan Pashupathy Capital Advisors for ₹10 lakh, and the transfer of "SUNEDISON" trademarks to SILRES for ₹1 crore. These actions are part of an internal restructuring and dispute resolution process.