On 11 February, Jaiprakash Power Ventures had informed that it has received shareholders’ nod through postal and electronic ballot for debt restructuring. New Delhi: Jaiprakash Power Ventures Ltd (JPVL) on Saturday alloted 305.80 crore equity shares to its lenders as part of debt restructuring scheme, which would reduce the debt of Rs3,058 crore. Following the allotment, financial institutions would have 51% equity share in the Jaypee group firm. Stakeholders Relationship Committee of the company at its meeting held on Saturday, alloted 305.80 crore equity shares of Rs10 each at a price of Rs10 to its 23 lenders. The company could not pay the outstanding overdues to lenders in a timely manner due to the aforesaid reasons.

Source: Mint February 18, 2017 16:30 UTC