The National Company Law Tribunal (NCLT), New Delhi Bench, has approved a resolution plan worth ₹3,800.14 crores for the insolvent Sinnar Thermal Power Limited (STPL). The successful bidder is a consortium of two public sector giants—Maharashtra State Power Generation Company Limited (MAHAGENCO) and NTPC Limited.
The plan, approved under the Insolvency and Bankruptcy Code (IBC), aims to revive the Nashik-based power plant and ensure maximum recovery for creditors. The corporate insolvency resolution process (CIRP) was initiated in September 2022 on an application filed by operational creditor Shapoorji Pallonji & Company Private Limited.
How the resolution pie is shared
The total resolution amount…