Adani Power announced on Thursday that the Hyderabad bench of the National Company Law Tribunal (NCLT) has approved its plan to acquire Lanco Amarkantak Power Ltd (LAPL) with an upfront payment of ₹4,101 crore. LAPL is currently undergoing the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, as stated in a filing with the BSE.
The acquisition is subject to the fulfillment of certain conditions outlined in the resolution plan. Upon completion, Adani Power will obtain 100% ownership of LAPL through a cash transaction.
LAPL operates a 2×300 MW (600 MW) thermal power plant (Phase-I) located in Pathadi Village, Korba District, Chhattisgarh.
The majority of the power generated from the Phase-I capacity…
