Sterling and Wilson Solar promoters facilitate repayment of Rs 500 crore

New Delhi: Sterling and Wilson Solar on Tuesday said that its promoters have facilitated repayment of Rs 500 crore as per the revised schedule of repayment approved by the board. “Sterling and Wilson Solar Ltd (SWSL) has received additional Rs 500 crore against loans outstanding from Sterling and Wilson Private Limited (SWPL) and its subsidiary Sterling and Wilson International FZE (SWFZE), which was facilitated by Shapoorji Pallonji and Company Private Ltd and Khurshed Daruvala (Promoters), as per the revised schedule of repayment approved by the Board of Directors of SWSL and communicated to the stock exchanges earlier,” a company statement said.

The proceeds have been utilised to reduce our external borrowings by an equivalent amount.