GMR’s lenders agree to rework power unit’s Rs 2,900 crore loans

Lenders have agreed to restructure ₹2,900 crore of loans to GMR’s power-producing unit, GMR Warora Energy, in what would help the group remove the non-performing-account tag on it, said two people aware of the development. An NPA tag makes it difficult for a company to raise fresh funds or make an acquisition under the Insolvency and Bankruptcy Code. Also, at times, it is difficult to win government contracts, the people said.