Piramal Enterprises, Tata Power, JSW Steel seek loan moratorium from their lenders

New Delhi: Piramal Enterprises, Tata Power and JSW Steel are some of the large corporates seeking a loan moratorium from their lenders, as provided by the Reserve Bank of India.

Ratings agency ICRA, in a statement listed about 328 companies rated by the agency and which have applied for the loan moratorium.

A few other companies which have sought the moratorium include TAJGVK Hotels & Resorts Limited, Tata Power Renewable Energy, GMR Hospitality and Retail, GMR Hyderabad Aviation SEZ and GVK Jaipur Expressway.

ICRA said the list includes entities that have sought a moratorium on payments as part of the COVID-19 - Regulatory Package announced by the Reserve Bank of India (RBI) on March 27 and where the approval from the lender was received either after the original due date or is still pending to be received.

Some of the NBFCs which have sought the nod for loan moratorium include CreditAccess Grameen Limited, Indostar Capital Finance Limited and Piramal Capital & Housing Finance.

The rating agency noted that missed payment by these entities even in the case of pending formal approval from the lender prior to the original due date is not considered as a default. (IANS)

Also Read: MERC nod to extend BEST, Tata Power agreement for 5 years

Also Watch: Sellers take advantage of helplessness of panic-stricken citizens by overpricing commodities