July 11, 2017 / 1:24 PM / 17 days ago

BRIEF-Adani Power says approached lenders for NOC for approval of demerger of Mundra power plant to unit

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July 11 (Reuters) - Adani Power Ltd

* Board approved demerger of Mundra Power 4620 MW undertaking to a subsidiary of the Adani Power with associated assets and liabilities

* Says have approached lenders and once an approval is granted, co will take the process forward as required

* Says Board of Approval of Special Economic Zones has deferred decision regarding the demerger with a query

* NOC from the banks would be taken through a meeting conveyed as per the directions of National Company Law Tribunal Source text - [Adani Power Board of Directors have approved demerger of the Mundra Power 4620 MW undertaking to a subsidiary of the Adani Power with associated assets and liabilities including bank loans, and is also subject to necessary approval and consent of stock exchanges, lenders, shareholders and NCLT etc.]

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