Business Update18 Sept 2024, 02:14 am
Reliance Infrastructure Agrees to One Time Settlement with Edelweiss Asset Reconstruction Company
AI Summary
Reliance Infrastructure Ltd. has agreed to a one time settlement (OTS) proposal with Edelweiss Asset Reconstruction Company Limited (Edelweiss). The settlement, amounting to Rs. 385 crore, is set to be completed before September 30, 2024. All legal proceedings between the parties will be in abeyance until the dues are settled as per this OTS. Edelweiss does not hold any equity shares in the Company and is neither a related party nor part of the promoter group.
Key Highlights
- Reliance Infrastructure Ltd. has agreed to a one time settlement with Edelweiss Asset Reconstruction Company Limited
- The settlement amount is Rs. 385 crore
- The settlement is set to be completed before September 30, 2024
- All legal proceedings between the parties are in abeyance until the dues are settled
- Edelweiss does not hold any equity shares in the Company and is neither a related party nor part of the promoter group