Sterling and Wilson Renewable Energy (SWREL) has agreed to restructure its debt after missing scheduled payments in September. The company, which has a 40% equity stake in Reliance Industries Ltd, is also working on a shareholder-approved plan to raise RS 1500 crore from the sale of equity shares. Union Bank of India led banks signed an inter creditors agreement (ICA) to give the company a longer time to repay loans.
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India Business News: Mumbai: Sterling & Wilson Renewable Energy has missed out on a loan repayment due in September, triggering a downgrade to default by India Ratings.
Mukesh Ambani's children Isha Ambani, Akash Ambani and Anant Ambani will enjoy perks as directors of Reliance Industries, similar to that of their mother Nita Ambani
Reliance AGM 2023 LIVE: Mukesh Ambani also announced significant changes to the company's board of directors. Nita Ambani will step down from the RIL board