RattanIndia Power Ltd - 533122 - Outcome of Board Meeting
This has reference to our letter dated September 17, 2019, whereby it had been intimated that: (a) the Company had received the letter of intent dated September 17, 2019, from lenders who had funded its 1350 MW, Phase-I, Thermal Power Project in Amravati, Maharashtra (the 'LoI' and such lenders, the 'Lenders'), the LoI having been issued in favour of the Company subsequent to it being declared successful in the open bid process run by the Lenders for the purpose of resolution of the aforesaid debt. (b) a meeting of the Board of Directors of the Company was scheduled for today i.e. September 19, 2019, to consider and accept the LoI. In continuation of the above we now wish to inform you that the Board of Directors of the Company has in its meeting held today, accepted the LoI. It may be noted here that the LoI is subject to approval of the Lenders for implementation. The meeting of the Board of Directors of the Company started at 5:00 P.M. and concluded at 5:40 P.M.19-09-2019