NEW DELHI: The National Company Law Tribunal (NCLT) has given a green light to JSW Energy‘s resolution plan for KSK Mahanadi Power Company under the Insolvency & Bankruptcy Code, which will result in an upfront cash recovery of around Rs 16,000 crore for financial creditors, which is around half their claim. Besides, the creditors will get a 26% stake in the company.
While the resolution process had started in 2019 the plan was finalised in Nov 2024 and submitted around a month ago. The NCLT bench, comprising members Rajiv Bharadwaj and Sanjay Puri, decided on the issue within a month, sending a strong signal that the tribunal is not sitting on proposals, especially where the amount involved is large. In fact, NCLT, IBBI and govt have…
