New Delhi, Jul 26 () The National Company Law Tribunal (NCLT) on Friday approved state-run hydro giant NHPC’s Rs 907 crore bid for the debt-ridden Lanco Teesta Hydro Power Ltd.
The Hyderabad bench of the NCLT approved the recommendations of the Committee of Creditors (CoC) of Lanco Teesta Hydro Power, which had in its meeting in December last year voted in the bid’s favour.
“Resolution Plan submitted by the NHPC Ltd for Lanco Teesta Hydro Power Ltd has been approved by NCLT Bench, Hyderabad,” NHPC said in a BSE filing.
As per the resolution plan, NHPC would pay Rs 877.74 crore to the financial creditors and Rs 11.12 crore would go to the operational creditors of Lanco Teesta Hydro Power.
