Indian Masterminds Stories
New Delhi: NTPC Limited has announced that the National Company Law Tribunal (NCLT), Delhi Bench, has approved the Resolution Plan jointly submitted by NTPC and Maharashtra State Power Generation Company Limited (MAHAGENCO) for the revival of Sinnar Thermal Power Limited (STPL). The approval marks a significant step forward in the Corporate Insolvency Resolution Process (CIRP) initiated under the Insolvency and Bankruptcy Code (IBC), 2016.
Approval Secures Future of Key Maharashtra Power Asset
Sinnar Thermal Power Limited, located in Sinnar, Nashik, operates a substantial coal-based generation facility with a capacity of 5×270 MW (1350 MW). The plant is considered a strategically important asset for…