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JSW's KSK Mahanadi bid gets NCLT nod
February 14, 2025
|The New Indian Express Kozhikode
THE Hyderabad bench of the National Company Law Tribunal (NCLT) on Thursday approved the ₹16,084 crore resolution plan submitted by JSW Energy Limited for KSK Mahanadi Power Company Limited, a Chhattisgarh-based power thermal power company.
The corporate insolvency resolution process against KSK Mahanadi Power Company Limited was initiated by Power Finance Corporation Ltd in October 2019.
The Resolution Professional (RP) - Sumit Binani - received ₹32,335 crore claims from different creditors including 19 banks and financial institutions.
In response to the Expression of Interest issued by the RP, a total of 10 Prospective Resolution Applicants (PRA) submitted the Resolution Plan, which includes NTPC Ltd, Vedanta Ltd. and Adani Power Limited.
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