{"id":356563,"date":"2020-06-10T11:53:20","date_gmt":"2020-06-10T06:23:20","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=356563"},"modified":"2020-06-10T11:53:20","modified_gmt":"2020-06-10T06:23:20","slug":"deutsche-bank-consortium-puts-jindal-thermal-deal-on-hold","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/deutsche-bank-consortium-puts-jindal-thermal-deal-on-hold\/","title":{"rendered":"Deutsche Bank consortium puts Jindal Thermal deal on hold"},"content":{"rendered":"<p>MUMBAI: A Deutsche Bank-led consortium that had won a bid to buy out the debt of Jindal India Thermal Power Ltd (JITPL) has placed the acquisition on hold. This joins a growing list of stressed asset acquisitions that have been scuttled after the covid-19 pandemic broke out in India and a lockdown was imposed.<\/p>\n<p>The consortium had been the sole bidder for the asset, and thus a resolution may be a long time in coming, according to two people aware of the development.<\/p>\n<p>JITPL is a 1,200 megawatt coal-fired power plant in Odisha\u2019s Angul district, owned by the BC Jindal Group company. It owes nearly \u20b97,600 crore to a clutch of 17 lenders, led by Punjab National Bank. The lenders hold 51% in the unlisted JITPL after shares pledged by the promoter company were invoked because of difficulties in repaying bank loans. Since 2017, lenders have sought bids to sell their 51% stake.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MUMBAI: A Deutsche Bank-led consortium that had won a bid to buy out the debt of Jindal India Thermal Power Ltd (JITPL) has placed the acquisition on hold. This joins a growing list of stressed asset acquisitions that have been scuttled after the covid-19 pandemic broke out in India and a lockdown was imposed. The consortium had been the sole bidder for the asset, and thus a resolution may be a long time in coming, according to two people aware of the development. JITPL is a 1,200 megawatt coal-fired power plant in Odisha\u2019s Angul district, owned by the BC Jindal [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[139,130,237],"tags":[],"class_list":["post-356563","post","type-post","status-publish","format-standard","hentry","category-live-mint","category-newspapers","category-power-live-mint"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/356563","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=356563"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/356563\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=356563"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=356563"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=356563"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}