National Company Law Tribunal (NCLT), Hyderabad bench on July 26, 2019 approved State run hydropower major NHPC’s bid for the debt-ridden Lanco Teesta Hydro Power Ltd (LTHPL) for an amount of Rs 897.50 Crores under Corporate Insolvency Resolution Process. NHPC Limited is a mini-ratna company under Ministry of Power and this is the first time that a state run company has bagged a project under IBC. The Original bid of Rs 907 crore was initially approved by the Committee of Creditors (CoC) of Lanco Teesta Hydro Power with 100% vote and the present bid amount of Rs 897.50 crores takes into consideration the theft occurring at site was approved by 97.34% vote.
