Anil Agarwal’s Vedanta group, Torrent Power and state run Neyveli Lignite Corp have joined the race for acquiring a controlling stake in GMR Energy’s 1,370MW plant in Chhattisgarh. In all, five companies including Adani Power and JSW Energy have put in final bids for the project, industry sources said. Resurgent Power, backed by Tata Group, […]
Day: January 20, 2018
NCLT grants 90-day lifeline to Nagarjuna Oil Corp for insolvency resolution
Nagarjuna Oil Corporation Ltd (NOCL) has received an extension of another 90 days for its Corporate Insolvency Resolution Process (CIRP), even as public sector and private investors get set to bid for control of the company. The National Company Law Tribunal (NCLT) approved the extension, as the process could not be completed within the stipulated […]