BGR Energy Systems Ltd

⚖️ BGR Energy Systems Enters Insolvency Process with ₹584.68 Crore Default

• Default amount: ₹584.68 crores as of August 31, 2024

• Accounts classified as Non-Performing Assets (NPA) effective June 30, 2022

• Default originated from loans and bank guarantees for APGENCO, GHATAMPUR (NUPPL), and OPGCL projects

• Debt was initially held by Canara Bank before assignment to NARCL

• Moratorium imposed prohibiting legal actions and asset transfers

• Mr. Dommeti Surya Rama Krishna Saibaba appointed as Interim Resolution Professional