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JSW's KSK Mahanadi bid gets NCLT nod
The New Indian Express Kollam
|February 14, 2025
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.
This story is from the February 14, 2025 edition of The New Indian Express Kollam.
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