The National Company Law Tribunal (NCLT) vacated the stay on the auction of the power project on April 5, paving the way for a fresh round of bidding. The total claim of lenders on the project is pegged at about Rs 32,000 crore. These companies have given expressions of interest , which were to be submitted by April 26 and the timeline to give a resolution plan by the interested parties is June 18, according to the timeline set by resolution professional Sumit Binani.
DIPAM declined the debt resolution plan for KSK Mahanadi Power project by PFC and REC. NCLT paused sale in June 2022. Interested companies were NTPC Ltd, Vedanta Ltd, Adani Power Ltd, Jindal Power Ltd.