The bankruptcy court has recently approved Raigarh Champa Rail Infrastructure’s acquisition by JSW Energy Ltd through the insolvency resolution process.
Sajjan Jindal-owned JSW Energy has proposed a Rs 700 crore revival plan against the company’s admitted liabilities of about Rs 543 crore, resulting in a recovery of about 129% for the lenders.
Before the National Company Law Tribunal’s nod, the company’s secured creditors had unanimously approved the revival plan for the company.
“All crystallised liabilities and unclaimed liabilities of the corporate debtor (Raigarh Champa Rail Infrastructure) as on the date of this order shall stand extinguished on the approval of this resolution plan,” said the division bench of judicial…