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KSK Mahanadi lenders may ask NCLT to speed up firm's sale process

On February 6, a requisite majority of KSK Mahanadi lenders passed a resolution to appeal to the National Company Law Tribunal (NCLT) to vacate a stay on the resolution process of the thermal power company and allow a standalone resolution of the company, the sources said. ....

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Jindal Power quits race to acquire Lanco Amarkantak

In a sudden U-turn, Naveen Jindal-promoted Jindal Power has dropped out of the race to acquire Lanco Amarkantak Power. Just last week, the company had topped an offer by Adani Power for the distressed thermal power company undergoing corporate insolvency proceedings. ....

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Jindal Power bids higher than Adani company for Lanco Amarkantak Power

Last week, JPL sought the bankruptcy court s approval to participate in the sale process of Lanco Amarkantak. On Friday, the Amaravati bench of National Company Law Tribunal (NCLT) directed JPL to submit a plan by Tuesday (January 16) to lenders along with a ₹100-crore bank guarantee. The NCLT will hear Wednesday JPL s petition whether it can participate in the sale process. ....

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Adani Power close to taking over Coastal Energen for ₹3,440 crore

After two days of intense bidding, Adani Power emerged as the winner late Saturday evening, said two people with knowledge of the matter. Jindal Power, the other bidder in the fray, quit the race, they added. The interest in Coastal Energen, undergoing corporate insolvency, is mainly because it is among a few operational power plants for sale. ....

Tamil Nadu , Lanco Amarkantak , Radhakrishnan Dharmarajan , Dickey Alternative Investment , Distribution Corp Tangedco , Adani Power , Coastal Energen , Dickey Alternative Investment Trust , Sherisha Technologies , Naveen Jindal Promoted Power , Jindal Power , Tamil Nadu Generation , Distribution Corp , Bahuri Promoted Coastal Energen , Corporate Insolvency , Power Plants , Power Company ,

Adani Power close to taking over Coastal Energen for ₹3,440 crore

After two days of intense bidding, Adani Power emerged as the winner late Saturday evening, said two people with knowledge of the matter. Jindal Power, the other bidder in the fray, quit the race, they added. The interest in Coastal Energen, undergoing corporate insolvency, is mainly because it is among a few operational power plants for sale. ....

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