Essel Group, lenders agree on timeline extension for sale of assets

MUMBAI: Multi-faceted business conglomerate Essel Group announced and confirmed that its lenders have unanimously agreed to extend the timeline, enabling the group to optimise the value output from the sale of its assets.

As per the official communication issued on 20 September 2019, the group was in a steady and progressive dialogue with all the lenders. The mentioned extension of the timeline was requested purely in the interest deriving the right value of the precious assets of the group.

The lenders have extended complete support to the group and its promoters, recognising the intrinsic value of the assets and the overall asset divestment process undertaken. The group remains confident on further divestments including its non-media assets.