Nov 29, 2016 12:30 PM IST | Source: CNBC-TV18

IFCI-led consortium puts Sravanthi Energy on the block: Sources

IFCI, Axis Bank, PNB, Canara Bank, IOB, SBM are among the lenders to the company. Sravanthi Energy has a 450 MW thermal power project in Uttarakhand and the company has a debt of over Rs 1,320 crore and is already declared as a non-performing asset (NPA).

A consortium of banks led by IFCI is planning to put debt laden Sravanthi Energy on the block as these lenders have not been able to find a buyer for the company under the strategic debt restructuring (SDR) scheme.

IFCI, Axis Bank, PNB, Canara Bank, IOB, SBM are among the lenders to the company. Sravanthi Energy has a 450 MW thermal power project in Uttarakhand and the company has a debt of over Rs 1,320 crore and is already declared as a non-performing asset (NPA).

SBI Capital Markets Ltd (SBICAP) has invited interest for acquisition by December 25.

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