Adani Power was selected as the successful resolution applicant under the CIRP of Vidarbha Industries Power.
Adani Power news: Indian billionaire Gautam Adani has been expanding his business empire. In this regard, his Adani Power Limited (APL), a Rs 1.82 lakh crore market cap company, has received a Letter of Intent (LOI) to acquire Vidarbha Industries Power Limited, a subsidiary of Reliance Power, Anil Ambani’s Reliance Group firm. Vidarbha Industries Power is currently undergoing a Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code 2016. Vidarbha Industries Power owns and operates a 2×300 MW thermal power plant in the MIDC Industrial Area of Butibori in Nagpur.
Adani Power was selected as the…
