Control restrictions in Indian thermal project

Author: | Published: 26 Jan 2011

Funding for Dhariwal Infrastructure’s thermal project – one of India’s biggest project financings last year – features special default provisions concerning the borrower’s board and ownership structure.

Dhariwal Infrastructure is building two coal-based thermal power plants in Chandrapur, Maharashtra.

A rupee-denominated term loan facility of INR 21.38 billion ($475 million) was granted by a consortium of lenders including ICICI Bank, Axis Bank, Bank of...