Rajasthan Rajya Vidyut Utpadan Nigam , a Rajasthan Government undertaking, has defaulted in repayment of principal and payment of interest aggregating ₹34.28 crore to Power Finance Corporation (PFC).
The total amount of outstanding borrowings of the Nigam from financial institutions stood at ₹21,652.46 crore as at August-end 2022, per the Nigam’s regulatory filing.
The loan (principal amount: ₹20.47 crore of 5.5 years tenor and carrying 12.05 per cent interest rate) from PFC to the Nigam has state government guarantee and default escrow,the Nigam said, adding the date of default was August 10, 2022.
The aforementioned disclosure has been made as the default in repayment of principal and payment of interest have continued beyond 30 days as on September 9, 2022.
The total debt of the Nigam, which has 11 power stations with collective installed power generation capacity of 8594.35 MW, as on August 31, 2022 stood at ₹44,882.05 crore, according to the regulatory disclosure.