Debt

Debt Financing

Lenders vote for liquidation of Lanco Mandakini Hydropower

Economic Times  

Lenders have voted for liquidation of Lanco Mandakini Hydro Power on the grounds that an offer from Norway's state-owned green energy company Statkraft did not meet their expectations. Statkraft's offer was the only concrete proposal available for consideration at the time the lenders voted to liquidate the company. An Axis Bank led group of lenders are owed Rs. 1300 crore by the power company. Punjab National Bank is also amongst the major lenders.