NEW DELHI: Adani Power Limited (APL) on Monday said it has received a Letter of Intent (LOI) to acquire Vidarbha Industries Power Limited.
The power firm was selected as the successful resolution applicant under the Corporate Insolvency Resolution Process (CIRP) of Vidarbha Industries Power Ltd.
The Committee of Creditors approved Adani Power’s resolution plan, as confirmed by the Adani Group company in its stock exchange filing.
“The Committee of Creditors of Vidarbha Industries Power, a company undergoing Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code 2016, has approved the Resolution Plan submitted by Adani Power, ” APL said in the filing.
The firm further added that APL received a Letter of…
