Reliance Power Ltd Settles Rs. 3872.04 Crore Corporate Guarantees and Undertakings

Reliance Power Ltd has announced the settlement and release of its entire obligations under corporate guarantees and undertakings for an amount of Rs. 3872.04 crore. This decision was made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Circular SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023. The corrective measures taken include the execution of a Settlement Agreement, Release Deed, and the withdrawal of all legal proceedings. This action has resulted in the release and discharge of all obligations and claims under the corporate guarantee, undertakings, and ECB Facilities availed by Vidarbha Industries Power Limited (VIPL). A pledge of 92.60% shareholding of VIPL has been created in favor of Axis Trustee Services Limited as Security Trustee on behalf of lenders of VIPL.