Yes Bank shareholding in Jhabua Power stands extinguished after debt resolution
Yes Bank on Saturday said its shareholding of 8.74 per cent in Jhabua Power has been extinguished following debt resolution of the company under the corporate insolvency process. Yes Bank had acquired 12,63,50,146 equity shares representing 8.74 per cent of share capital of Jhabua Power pursuant to invocation of pledge.
Under the corporate insolvency resolution process of Jhabua Power approved by the National Company Law Tribunal, Kolkata, as per the resolution plan, the existing equity share capital held by the existing lenders stands extinguished and settled with effect from transfer date without liabilities, claims or obligations whatsoever against the company, Yes Bank said in a regulatory filing on Saturday.
