Adani Energy has emerged because the profitable bidder for Essar Energy’s 1,200 MW thermal energy undertaking in Mahan, Madhya Pradesh.
The Adani Energy bid for the undertaking has been accredited by a committee of collectors. Now, it must search the NCLT approval to accumulate the undertaking, which is present process insolvency proceedings.
“This is to inform that the Committee of Creditors of Essar Power M P Ltd (EPMPL), a company undergoing insolvency resolution under the Insolvency and Bankruptcy Code, has approved the Resolution Plan submitted by Adani Power Ltd,” a BSE submitting by Adani Energy stated on Friday.
EPMPL owns a 1,200 MW energy plant in Singrauli district, Madhya Pradesh, it added.
Pursuant to this approval, the Decision Skilled appointed by the Nationwide Firm Regulation Tribunal, Delhi has issued a letter of intent dated June 17, 2021, to the corporate, it acknowledged.
In accordance with trade sources, the deal dimension of the undertaking is estimated at round ₹2,800- ₹3,000 crore.
The closure of the transaction might be topic to acquiring vital approval from the NCL T and satisfaction of situations precedent below the decision plan.
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