Ruias offer one-time settlement deal for Essar Power Gujarat

Essar is offering ₹1,600 crore to settle ₹4,500 crore of loans taken for the Salaya plant in Gujarat’s Jamnagar district, effectively giving banks a recovery of about 36% on their dues. Banks as well as Essar officials are working out legal and other details to complete the settlement, multiple persons aware of the deal, said.

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