Reliance Power Settles Rs 38.72 bn Guarantor Dues for Vidarbha Industries

19 Sep 2024 CW Team

Reliance Power announced that it has settled guarantor obligations amounting to Rs 38.72 billion for its subsidiary Vidarbha Industries Power, according to a stock exchange filing. The company disclosed that the entire obligation as a guarantor on behalf of Vidarbha Industries Power (VIPL) had been fully settled. This settlement resulted in the release and discharge of the corporate guarantee, along with any related understandings, obligations, and claims concerning the outstanding debt of VIPL, which totalled Rs 38.72 billion.

Additionally, Reliance Power confirmed that it had resolved all disputes with CFM Asset Reconstruction (CFM). The company stated that 100 per cent of VIPL's shares had been pledged in favour of CFM, in exchange for the release and discharge of the corporate guarantee provided by Reliance Power.

In accordance with the settlement agreement, Reliance Power, along with its subsidiaries Rosa Power Supply Company and VIPL, and CFM Asset Reconstruction, formalised an agreement to address the outstanding debt. Following this, a release deed was executed, and Reliance Power, Rosa, and VIPL agreed to withdraw all legal proceedings they had initiated against CFM. Similarly, CFM agreed to withdraw all proceedings, including an insolvency application, that it had initiated against Reliance Power and Rosa.

Furthermore, a pledge of the remaining 92.60 per cent shareholding of VIPL in favour of Axis Trustee Services was established.

Following the settlement, Reliance Power reported that its net worth stood at Rs 111.55 billion as of June 30, 2024, on a consolidated basis.

Real Estate

13 Jan 2026

R.Evolution Launches Eywa Way of Water on Dubai Water Canal

R.Evolution has unveiled Eywa Way of Water, a landmark waterfront residential development along the Dubai Water Canal, marking the second project in its Eywa Collection. Conceived as a holistic living ecosystem, the development seeks to redefine ultra-luxury living by integrating principles of well-being, longevity and regenerative design.Building on the philosophy established with the first Eywa project, Eywa Way of Water explores the relationship between architecture, nature, energy and human experience. Inspired by the rhythm and intelligence of the ocean, the project incorporates water, ai..

Liebherr Launches Power Deals 2026 With Financing and Discounts

Liebherr has kicked off 2026 with the launch of its “Power Deals” campaign, introducing three limited-period promotional offers aimed at supporting customers across the earthmoving and material handling segments. Available in selected markets through participating sales and service partners, the initiatives combine financing incentives, anniversary benefits and cost-saving maintenance solutions.As part of Power Deal 1, Liebherr is offering a financing subsidy on selected construction and material handling machines purchased in the first half of 2026. Customers can avail of an annual subsid..

Haver & Boecker Niagara to Showcase Largest Booth at CONEXPO 2026

Haver & Boecker Niagara has announced that it will unveil its largest and most interactive exhibit to date at CONEXPO-CON/AGG 2026, scheduled to be held from March 3 to 7 in Las Vegas. The company’s expansive booth, located at C32616 in the Central Hall, has been designed as an immersive, museum-style experience offering visitors a comprehensive view of its latest mineral processing technologies.The exhibit will feature multiple themed rooms highlighting Haver & Boecker Niagara’s end-to-end solutions, including diagnostics, processing equipment, screen media, and aftermarket servic..