KSK Mahanadi Power Company, represented by its Resolution Professional s counsel, informed the NCLT, Hyderabad, on Monday, that new circumstances necessitate a reissuance of bids under the corporate insolvency resolution process (CIRP) for KSK Mahanadi Power, which entered insolvency proceedings in October 2019.
The move will give a chance for a better valuation for the 1,800-MW project, which saw interest from the likes of Adani Power, Jindal Power and Vedanta Ltd in the first round of auctions, people close to the development said.