JSW Energy has entered into an settlement with Jaiprakash Power Ventures Ltd (JPVL) on January 02, 2020 to re-shape the main awesome quantity of Rs. 751.Seventy seven crore, owed by means of JPVL to the Company. The key phrases of the agreement are as follows:

An amount of Rs. 351.77 crore to be converted into equity stocks of JPVL at par value of Rs. 10 every.

Out of the stability top notch foremost quantity of Rs. 400 crore, Rs. 280 crore to be written off and Rs. 120 crore to preserve as debt to be paid by way of JPVL to the Company, quarterly on priority basis, out of the available cash flows after JPVL has paid 10% of the re-dependent sustainable debt to its secured creditors.

The Company has already made a provision for Rs. 574.19 crore in sector ended March 31 , 2018 for the above.

JPVL and the Company have agreed to waive their respective rights to acquire any payments from every different and unconditionally launch each other from all liabilities in terms of the Securities Purchase Agreement dated November sixteen, 2014 for transfer of Karcham and Baspa hydro belongings from JPVL to the Company. This will result in reversal of an amount of Rs. 177.Forty eight crore of liabilities payable to JPVL in the Company’s books.