New Delhi, 18 September (H.S.): The Anil Ambani-owned ADAG’s company, Reliance

Power Ltd's shares hit upper circuit on Wednesday as the company said that it

has settled its entire ₹3,872 crore obligation as guarantor for Vidarbha

Industries Power.

The company’s obligations as a guarantor on behalf of

Vidarbha Industries Power have been fully settled, resulting in the release and

discharge of the corporate guarantee, undertakings, and all obligations related

to the outstanding debt of ₹3,872.04 crore, RPL stated in its statement

submitted to the regulator.

Reliance Power also announced it has

zero debt from banks and financial institutions. The firm's company’s

consolidated net worth stood at ₹11,155 crore, as of the end of the

first quarter in FY25. After these announcement, company’s shares rose 5% in

trading and reaching a day’s high of ₹32.98.

As per company, the Reliance Power has

settled all disputes with CFM Asset Reconstruction after the 100 percent shares

of VIPL have been pledged in favour of CFM against the release and discharge of

Corporate Guarantee given by Reliance Power. Reliance Power, Rosa Power Supply

Company and VIPL to withdraw all proceedings initiated by them against CFM.

Further, CFM to withdraw all proceedings initiated by it against Reliance Power

and Rosa Power Supply Company, including those under the Insolvency and

Bankruptcy Code.

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Hindusthan Samachar / Nimish kumar