Sarda Energy & Minerals Ltd shares were up 5.80% after the company informed that the Supreme Court had rejected all appeals filed by unsuccessful resolution applicants against approval of its resolution plan for SKS Power Generation (Chhattisgarh) Ltd, removing the final judicial overhang on the acquisition process.
The disclosure, addressed to both BSE Ltd and National Stock Exchange of India Ltd, references the National Company Law Tribunal (NCLT) order dated 13 August 2024 which had approved the company’s resolution plan under the Corporate Insolvency Resolution Process (CIRP). The Supreme Court’s order, pronounced on 27 February 2026, dismisses the remaining challenges lodged by rival bidders.
The detailed judgment is awaited,…