The company said it had successfully completed the first tranche of its divestment in the Oman subsidiary by selling 48.99% to the acquirer.

‘We are working very seriously on a plan to divest Australian assets.’

The enterprise value of the deal is over US $1 billion

Lenders plan to invoke JSPL’s corporate guarantees, file winding up petition if dues are not cleared by September.

Among other things, this is understood to have been triggered by JSPL’s inability to service $25 million unsecured loan from a large Japane...