Ind-Barath Energy lenders, JSW Energy may renegotiate resolution plan

Lenders to distressed borrower Ind-Barath Energy (Utkal) and JSW Energy NSE -1.67 %, the asset’s successful bidder, are likely to renegotiate the resolution plan after the tribunal observed in its order that parties can ‘sit across the table’ and take stock of the situation.

The observation was made by the tribunal in the context of an application filed by the BSE-listed JSW Energy, which sought to terminate its own plan with the arguments that the assets of the company have deteriorated beyond Rs 300 crore.