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CCI approves Adani Power s 100% acquisition of Lanco Amarkantak Power

Earlier this month, Adani Power received the Committee of Creditors’ approval for the resolution plan to acquire insolvent Lanco Amarkantak Power.

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Adani Power wins bid for Lanco Amarkantak coal plant in India

Adani Power has emerged as the winning bidder to acquire the debt-ridden Lanco Amarkantak Power, by offering Rs41.01bn ( $494m).

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One company, 3 buyers Mukesh Ambani, Adani and government, know the full story here

Jindal Power applied with Amravati National Company Law Tribunal (NCLT) to withdraw its petition, said people with knowledge of the matter.

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Adani Power refuses to give up on Lanco unit, makes improved offer

Adani s new offer comes several months after a majority of lenders voted for a ₹3,020 crore resolution plan from a PFC-led consortium. In January, the PFC-led consortium s proposal secured 95% of votes, while Adani Power got 17% votes. Reliance Industries, which was also in the race offering ₹2,103 crore, did not receive any votes.

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