Lanco Amarkantak Power creditors to vote on Adani Power’s Rs 4,100 cr bid

Creditors of distressed thermal power firm Lanco Amarkantak Power will soon vote on a proposal to deal with Adani Power’s Rs 4,100 crore unsought bid, according to a report by The Economic Times (ET). The resolution professional (RP) will move to the National Company Law Tribunal (NCLT) for directions on the sale process, provided over 66 per cent of lenders approve this offer.

Saurabh Kumar Tikmani, a resolution professional backed by accounting firm KPMG, will also ask for instructions on withdrawing the Power Finance Corporation-led consortium’s resolution plan for Lanco Amarkantak.