State-owned NHPC on Wednesday inked a definitive agreement for takeover of Rangit-IV hydro power project in Sikkim. The agreement is for implementation of the approved resolution plan for takeover of 120 MW Rangit-IV hydro power project of Jalpower Corporation Ltd (JPCL) in Sikkim, a power ministry statement said.<\/p>\n
The agreement was signed between NHPC, Resolution Professional and Secured Financial Creditors (PFC and PNB) in presence of Y K Chaubey, Director(Tech) NHPC; R P Goyal, Director (Finance) NHPC and senior officers from NHPC and PFC, it said.<\/p>\n
The National Company Law Tribunal (NCLT), Hyderabad bench approved NHPC’s resolution plan for taking over JPCL as going concern vide its order on December 24, 2020.<\/p>\n
NHPC had submitted its resolution plan and was declared the successful resolution applicant by Committee of Creditors (CoC) on January 24, 2020.<\/p>\n
The CoC-approved resolution plan was filed by Resolution Professional with the NCLT Hyderabad bench on January 28, 2020.<\/p>\n
The total cost of the project is estimated at Rs 943.20 crore.<\/p>\n
JPCL is the second company after Lanco Teesta Hydro Power Ltd to be acquired through insolvency process by NHPC.<\/p>\n","protected":false},"excerpt":{"rendered":"
State-owned NHPC on Wednesday inked a definitive agreement for takeover of Rangit-IV hydro power project in Sikkim. The agreement is for implementation of the approved resolution plan for takeover of 120 MW Rangit-IV hydro power project of Jalpower Corporation Ltd (JPCL) in Sikkim, a power ministry statement said. The agreement was signed between NHPC, Resolution Professional and Secured Financial Creditors (PFC and PNB) in presence of Y K Chaubey, Director(Tech) NHPC; R P Goyal, Director (Finance) NHPC and senior officers from NHPC and PFC, it said. The National Company Law Tribunal (NCLT), Hyderabad bench approved NHPC’s resolution plan for taking […]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[132],"tags":[],"class_list":["post-395417","post","type-post","status-publish","format-standard","hentry","category-power"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/395417","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=395417"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/395417\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=395417"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=395417"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=395417"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}