Lenders approve Adani Power offer for Chennai-based Coastal Energen
CHENNAI: The Committee of Creditors of Chennai-based power generation firm Coastal Energen has approved the resolution plan submitted by the Adani Power-led consortium, the latter informed the exchanges on Sunday.
In this regard, the consortium of APL (Adani Power Ltd) has received a Letter of Intent (LOI) from the Resolution Professional (RP) on 23 December 2023. The implementation of the resolution plan is subject to the terms of the LOI and requisite approvals from the NCLT and/or any other regulatory authority/courts/tribunal (as the case may be) under applicable laws,” Adani Power said in a regulatory filing.
