Company continuously working on a resolution plan: Suzlon

Wind-turbine maker Suzlon Energy on Wednesday said the company is working on a resolution plan and lenders have time till January next year to work on a sustainable resolution plan before taking any extreme steps.

“The company is continuously working on a resolution plan with the lenders and has also submitted a restructuring plan, which envisages segregating total debt into sustainable debt and unsustainable debt,” Suzlon Energy said in a filing to BSE in response to a clarification sought by the bourse on a news item.

The filing further added that “the lenders have already signed inter-creditor agreement and have time till January 2020 to work on a sustainable resolution plan before taking any extreme steps”. Read More