NEW DELHI: The National Company Law Tribunal’s (NCLT) Hyderabad bench has approved state-run hydropower major NHPC’s bid to acquire the insolvent Lanco Teesta Hydro Power Ltd (LTHPL) for an amount of Rs 897.50 crore, it was announced on Monday.
The original bid of Rs 907 crore was initially approved by the Committee of Creditors (CoC) of Lanco Teesta Hydro Power with 100 per cent vote and the present bid amount of Rs 897.50 crore, which takes into consideration the theft occurring at sitem, was approved by 97.34 per cent vote, an NHPC statement said.
