Sterling and Wilson Solar receives Rs 5 billion against outstanding loans

Sterling and Wilson Solar Limited, a solar engineering, procurement and construction company, has received Rs 5 billion towards the outstanding loans from its parent company, Sterling and Wilson Private Limited, and its subsidiary, Sterling and Wilson International FZE. The funding was facilitated by ShapoorjiPallonji and Company Private Limited and KhurshedDaruvala, as per the revised schedule of repayment approved by the board of directors of Sterling and Wilson Solar. The proceeds were used to bring down their external borrowings. An amount of Rs 10 billion had already been paid towards these dues from the date of listing of the company till December 31, 2019. With this repayment, the total dues cleared stood at about Rs 15 billion, inclusive of the principal and interest.

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