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PFS approves decision of IL&FS Tamil Nadu Power Company

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New Delhi: PTC India Financial providers (PFS) on Monday mentioned it has accredited the decision of considered one of its careworn mortgage accounts within the thermal-based phase — IL&FS Tamil Nadu Power Company Limited. This 2 x 600 MW imported Coal-based Thermal Power Project is predicated at Cuddalore, in Tamil Nadu, PFS, a subsidiary of PTC India, mentioned in an announcement.

As per RBI round dated June 7, 2019 and directives of National Company Law Appellate Tribunal (NCLAT), following decision has been accredited by PFS according to lead lender Punjab National Bank (PNB), the corporate mentioned.

“Post approval of the said resolution plan from NCLT/NCLAT, the loan account shall be classified under ‘Green’ category from ‘Amber’ category,” it mentioned.

It is pertinent to say that out of whole excellent of Rs 224.95 crore comprising principal Rs 183.84 crore and curiosity Rs 41.11 crore, PFS had already made provisioning of Rs 66.39 crore as on interval ended September 30, 2020, it added.

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