SKS Power lenders to review Torrent’s resolution proposal next week
Lenders of SKS Power will meet next week to review the resolution plan offered by Torrent Power following a directive by the bankruptcy court, which observed that the decision by the lenders to sell the power company to Sarda Energy and Minerals was based on incomplete financial data, said people with knowledge of the matter. Lenders of bankrupt SKS Power unanimously voted on May 16 in favour of a plan given the stock exchange listed Sarda Energy. Torrent Power, Jindal Power Ltd and Vantage Point Asset Management were also in the fray for the same power producer.
