{"id":525031,"date":"2022-09-27T09:56:53","date_gmt":"2022-09-27T04:26:53","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=525031"},"modified":"2022-09-27T10:50:39","modified_gmt":"2022-09-27T05:20:39","slug":"nabha-power-secures-approval-to-convert-rs-5341-cr-debt-to-equity","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/nabha-power-secures-approval-to-convert-rs-5341-cr-debt-to-equity\/","title":{"rendered":"Nabha Power secures approval to convert Rs 5,341-cr debt to equity"},"content":{"rendered":"<p>Nabha Power, a subsidiary of L&amp;T Power Development, has received shareholders&#8217; approval to convert part of its debt of Rs 5,341 crore into equity in case of a default in future, according to filings with the government authorities.<\/p>\n<p>L&amp;T was earlier planning to sell the Punjab-based unit but as there is a delay in finding a buyer, the company has asked the shareholders for permission to convert part of the debt without giving any timeline to do the same.<\/p>\n<p>Nabha Power made a profit of Rs 302 crore for the fiscal year ended March this year on revenues of Rs 4,129 crore.<\/p>\n<p>Bankers said there was no question of Nabha Power defaulting on its loan as the company is backed by L&amp;T and the enabling resolution was cleared by shareholders in case of any future default.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nabha Power, a subsidiary of L&amp;T Power Development, has received shareholders&#8217; approval to convert part of its debt of Rs 5,341 crore into equity in case of a default in future, according to filings with the government authorities. L&amp;T was earlier planning to sell the Punjab-based unit but as there is a delay in finding a buyer, the company has asked the shareholders for permission to convert part of the debt without giving any timeline to do the same. Nabha Power made a profit of Rs 302 crore for the fiscal year ended March this year on revenues of Rs [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,232],"tags":[],"class_list":["post-525031","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-power-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/525031","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\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=525031"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/525031\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=525031"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=525031"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=525031"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}