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SNDL seeks to opt out of city ops

On eve of the State assembly election, SNDL that was under fire from consumers has sought to exit the power business and asked Maharashtra State Electricity Distribution Company Limited (MSEDCL) to take over its franchisee area in Nagpur city. Due to precarious financial position of its promoter, the Essel Group, SNDL finds itself in critical state and is not even in position to arrange cash for its daily operations. Hence in a communication with CMD, MSEDCL, dated August 12, 2019, Sonal Khurana, Business Head, SNDL, asked former to step-in as the power company is not in position to run the operations any further.In short, SNDL has sought to exit the power business, saying it's not in position to even arrange funds for operation and mainten.....

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