Suzlon Shareholders Approve Resolutions for Debt Restructuring

Suzlon Group has announced the outcome of its Extraordinary General body Meeting (EGM).

J P Chalasani, Group CEO, said, “We are pleased with the outcome of the shareholder’s approval, where they have whole heartedly supported all the resolutions, clearing the path for completion of our Debt Restructuring process. Stakeholders have demonstrated confidence in the Company by confirming to infuse equity. The Company is set to begin operations post completion of formalities and end of current lockdown in the country.”

Swapnil Jain, CFO, said, “We are grateful to all our lenders, bondholders and key stakeholders for having faith and standing by the Company to work towards a holistic debt resolution in these challenging times. With trimmed debt and new equity infusion, the capital structure of the Company will get fixed, and we shall be back in business.”

Business | News published on 20/05/2020 by Moulin

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