JSW Energy Ltd on Monday (January 13) said it has been declared the successful applicant for the resolution plan submitted for KSK Mahanadi Power Company Ltd (KMPCL) under the corporate insolvency resolution process (CIRP) of the Insolvency and Bankruptcy Code, 2016.
The company received a letter of intent (LoI) from the resolution professional, following the approval of the resolution plan by the Committee of Creditors. The closure of the transaction is contingent upon obtaining the necessary regulatory approvals from the National Company Law Tribunal and the Competition Commission of India.
KMPCL owns a 3,600 MW thermal power plant located in Chhatisgarh and uses domestic coal. At present, 1,800 MW (600 MW x 3 units) is operational…
