The National Company Law Tribunal (NCLT) has approved Sarda Energy and Mining’s (SEML) resolution plan for SKS Power Generation (Chhattisgarh), as part of the corporate insolvency resolution process under the Insolvency and Bankruptcy Code (IBC), 2016.
A formal order detailing the approval is still pending.
The bench, comprising justices Anu Jagmohan Singh and Kishore Vemulapalli, ruled in favour of SEML, dismissing objections raised against the plan. “We hereby approve the successful resolution applicant’s (Sarda Energy) plan for the corporate debtor,” the bench stated in its order.
The process leading to this decision has been…
