Tata Power offers to sell 51% stake in Mundra project for ₹1

Tata Power has offered to sell 51% stake in its Mundra Ultra Mega Power Project for only ₹1. Tata, in a letter to government stated the company's financial position has reached a critical situation due to substantial losses incurred. Notably, Mundra has an outstanding loan of ₹10,159 crore and lenders have stopped further disbursal due to non-viability of the project.