Vedanta Ltd - 500295 - Announcement under Regulation 30 (LODR)-Press Release / Media Release
Pursuant to the order dated January 30, 2020 of National Company Law Tribunal Cuttack, Vedanta Limited is implementing the approved Resolution Plan for Ferro Alloys Corporation Limited ('FACOR'). The consideration payable for the acquisition of FACOR on debt and cash free basis under the approved Resolution Plan is INR 10 Crores as well as equivalent of cash balance in FACOR's subsidiary, FACOR Power Limited (FPL) as Upfront Payment and zero coupon, secured and unlisted Non-Convertible Debentures of aggregate face value of INR 270 Crores to the Financial Creditors payable equally over 4 years commencing March 2021. FACOR is a company in the business of producing Ferro Alloys and owns a Ferro Chrome plant with capacity of 72,000 TPA, two operational Chrome mines and 100 MW of Captive Power Plant through its subsidiary, FPL.31-01-2020
