Epic Update : ICICI Bank

ICICI Bank is the lender to Griffin Coal, which is in turn owned by Lanco Infratech and which reneged in 2011 on a 25-year deal to supply coal to Perdaman’s planned coal to urea project. Lanco had sought higher coal prices to help offset losses at Griffin, which it bought from the wreckage of RIC Stowe’s debt-laden empire for $750 million in 2010.

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