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Sherisha Solar resolves dispute with SILRES, transferring assets and paying Rs 16.5 crore
08-Aug-2026, 09:52
Refex Renewables & Infrastructure Limited announced that Sherisha Solar LLP, a step-down subsidiary, SILRES Energy Solutions Private Limited, and related entities have entered into a binding Memorandum of Understanding for the resolution of disputes, including the withdrawal of a Section 7 petition filed by SILRES against Sherisha Solar LLP under the Insolvency and Bankruptcy Code, 2016. As part of the settlement, Sherisha Solar LLP will pay Rs 16,51,26,975 to SILRES against a loan liability of Rs 33,39,39,339, and SILRES will withdraw the petition; Refex Renewables & Infrastructure Limited will transfer Ishaan Solar Power Private Limited to SILRES for Rs 3,92,58,420, transfer a 0.064% equity share holding in SILRES to Avyan Pashupathy Capital Advisors Private Limited for Rs 10,00,000, and transfer “SUNEDISON” trademarks to SILRES for Rs 1,00,00,000.
Refex Renewables & Infrastructure Limited announced that Sherisha Solar LLP, a step-down subsidiary, SILRES Energy Solutions Private Limited, and related entities have entered into a binding Memorandum of Understanding for the resolution of disputes, including the withdrawal of a Section 7 petition filed by SILRES against Sherisha Solar LLP under the Insolvency and Bankruptcy Code, 2016. As part of the settlement, Sherisha Solar LLP will pay Rs 16,51,26,975 to SILRES against a loan liability of Rs 33,39,39,339, and SILRES will withdraw the petition; Refex Renewables & Infrastructure Limited will transfer Ishaan Solar Power Private Limited to SILRES for Rs 3,92,58,420, transfer a 0.064% equity share holding in SILRES to Avyan Pashupathy Capital Advisors Private Limited for Rs 10,00,000, and transfer “SUNEDISON” trademarks to SILRES for Rs 1,00,00,000.