Suzlon resolution plan gets committee of creditors go-ahead

The committee of creditors (CoC) of beleaguered wind energy producer Suzlon Energy has approved the resolution plan by 100% vote, the company said in a release to the stock exchanges on Monday. The CoC was led by State Bank of India (SBI).

According to sources, the current proposal by promoters implies around 60% haircut to lenders on a total exposure of Rs 12,785 crore to financial creditors.