Lanco Thermal Power gets financial claims worth Rs 24,000 crore
MUMBAI: Lanco Thermal Power, the holding company for investments in thermal power plants by Lanco Group, has received financial claims of Rs 24,000 crore, said two people with direct knowledge of the matter.
Among the 15-20 lenders to the company are Andhra Bank, ICICI BankNSE -1.89 %, Axis BankNSE -1.36 %, Canara BankNSE -2.64 %, and IDBI BankNSE -4.47 %, sources said. The NCLT’s Hyderabad chapter admitted the case for insolvency proceedings on May 9 this year. Andhra BankNSE -0.52 % moved the petition under the Insolvency and Bankruptcy Code.
