State-run power giant NTPC has decided to acquire only those stressed power projects undergoing insolvency proceedings in the National Company Law Tribunal (NCLT), with an aim to get fairer deals.
All those insolvency deals so far in the NCLT have got discounts of up to 70 per cent or even more from secured creditors.
The secured creditors have a say on deals in the NCLT while views of unsecured creditors are not considered.
Stressed power projects have been in favour of resolving issues and avoiding distress sale under the insolvency proceedings. However, NTPC would have greater chances of getting better deals via NCLT route.
