Committee of Creditors approves debt settlement proposal, ending insolvency process for KSK Water Infrastructures Private Limited. JSW Energy completes acquisition.
New Delhi, Jun 23 (PTI) The Committee of Creditors has cleared a proposal to withdraw the insolvency resolution process of KSK Water Infrastructures Private Limited (KWIPL) after approving a debt settlement proposal submitted by JSW Energy.
On March 6, JSW Energy Limited said it had completed the acquisition of KSK Mahanadi Power Company Limited (KMPCL) under the corporate insolvency resolution process of the Insolvency and Bankruptcy Code, 2016.
The resolution plan has now been implemented, and consequently, KMPCL has become a subsidiary of the company. As per the terms of the…