Adani Power’s resolution plan for Essar Power unit gets NCLT approval
The dedicated bankruptcy court has approved the resolution plan submitted by Adani Power NSE 2.08 % Ltd for the revival of Essar Power’s unit Essar Power Mahan Project Ltd (EPMPL). The company owns a 1,200 MW thermal power plant in the Singrauli district of Madhya Pradesh.
The approved resolution plan provides for payment of Rs 2,500 crore as against the admitted claim of financial and operational creditors to the tune of Rs 12,067 crore. The consortium of financial lenders approved Adani Power’s resolution plan unanimously.
“In the absence of any tenable objection made against the resolution and keeping note that the resolution plan is passed by 100% vote of CoC (committee of creditors).
