ESSAR Clear $20b All NPAs

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RIL Sells $2b Dead Gas Pipeline

March15, 2019 (C) Ravinder Singhprogressindia2015@gmail.com

ET Reported on front pages – While Ambani is allowed to sell RIL ASSETS OF MOST INDEBTED Company in India – Telecom Towers of R.Jio for $8b and Practically DEADKakinada-Bharuch 1400 Km Gas Pipeline for $2b.

The Rs.13,000-crore valuation will include both equity and debt. Axis Bank and ICICI Bank are providing the financing. The other investors together are likely to put in Rs.1,000-1,200 crore.

 

Brookfield Asset Management of Canada shall form a Trust to manage the assets.

Banks to inject $10b in $33b Debt of RIL without creating PRODUCTIVE ASSETS.

RIL has as per FortuneIn500 has Rs.2,39,843 Cr Debt which is rising every year.

$10b Acquisitions Shall Be FUNDED by already weak INDIAN BANKS with Buy Back Options for Pipelines after 20 years and pay Rent for using Telecom Towers.

Ø ET reported on FY18 Revenue of Rs.884 Cr Net Loss was Rs.715 Cr.

 

So on a RIL Debt of Rs.2,39,843 Cr – Banks Shall Finance Upto Rs.70,000 Cr Without any investment in ‘NEW ASSETS.’

Ruias of ESSAR and other Companies are Told to CLEAR All Dues before considering Bank RE-Finance.

ESSAR is asked to Clear all Group Debt of Rs.1,40,000 Cr.

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