State-run gas utility GAIL (India) Ltd has proposed to assume the debt of about ₹4,000 crore of Konkan LNG Pvt. Gail owned 25.5% in unlisted Konkan LNG in March 2018, according to a shareholding document from the registrar of companies (RoC). An undated shareholding pattern of Konkan LNG, available on its website, showed that GAIL now owns 56.71% of the paid-up share capital. Ltd (RGPPL) into a new company, Konkan LNG, was filed for approval with the National Company Law Tribunal (NCLT) on 23 December, 2016. The debt restructuring proposal of RGPPL included bifurcation of existing loans of ₹9,000 crore into RGPPL and Konkan LNG.

Source: Mint June 12, 2019 18:22 UTC