Azure Power: Default Risks and Creditor Options

On Wednesday, July 5, we discussed Azure Power. NYSE-listed Azure Power Global has been unable to publish its audited financial statements and annual report for the financial year ended March 31, 2022, so far. The Indian solar power producer was still in the midst of multiple ongoing audits since whistleblower complaints were filed, alleging data manipulations at a project and misconduct and misgovernance, among other issues. The company then faced a delisting risk and might subsequently face a potential event of default on its dollar bonds. In this webinar, we discussed the potential event of default triggers, the delisting process and risks associated with it for the bondholders, and possible recovery scenarios and outcomes.

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