₹ 500 Crore out of the Outstanding Loans envisaged to be repaid by June 30, 2020 (“June Installment") might spill beyond by a few weeks due to impact caused by the global pandemic COVID-19," the company said in a stock exchange filing.The repayment is part of dues worth Rs2,644 crore that the promoters owe to SWSL.
The loan was to be repaid within 90 days of Sterling and Wilson Solar’s IPO, which ended mid-November 2019.The promoters had sought an extension for repaying the loans, blaming “significant and rapid deterioration in the credit markets.The promoters have so far repaid Rs1,500 crore the company, with Rs500 crore due on 30 June and rest due by 30 September.In a letter dated 4 July, the promoters informed the company that the.