Thall Limited to create $2.8m asset charge for ThalNova Power Thar

MG News | October 23, 2023 at 01:41 PM GMT+05:00

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October 23, 2023 (MLN): The Board of Directors (BoD) of Thall Limited (THALL) has decided to create a charge on its assets up to $2.8 million for the purpose of securing the obligations of ThalNova Power Thar (Private) Limited (TN), THALL’s filing on local bourse revealed today.

The board has decided to either create a charge or provide necessary security as required by banks/financial institutions.

This commitment will be valid for 10 years or until the sponsors' liabilities are settled, whichever is later.

THALL will secure TN’s obligations under the letter of credit issued in favor of the Central Power Purchasing Agency (Guarantee) Limited.

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