Shapoorji Pallonji and Khurshed Daruvala, the promoters of Sterling and Wilson Solar Limited have repaid loans of Rs 500 crore .
These loans were paid back to Sterling and Wilson Private Limited (SWPL) and its subsidiary Sterling and Wilson International FZE (SW FZE), as per the revised schedule of repayment approved by the Board of Directors of SWSL, the company said in a filing.
With this the promoters have paid back Rs 1,500 crore, which is inclusive of principal and interest. On January 1, the promoters had repaid Rs 1,000 crore.
Bikesh Ogra – Director and Global CEO said : “When we announced our results in February 2020, we were one of the first few companies to have felt the impact of COVID19 pandemic, as the dispatches from China for the Solar PV panels and other equipment related to solar projects had been impacted.
