NCLAT issues notice to Adani Power on plea contesting acquisition of Lanco Power
4 months, 3 weeks ago

NCLAT issues notice to Adani Power on plea contesting acquisition of Lanco Power

Live Mint  

The National Company Law Appellate Tribunal issued a notice to Adani Power Ltd on Monday in response to a plea challenging its approved resolution plan to acquire the bankrupt Lanco Amarkantak Power Limited. The National Company Law Tribunal’s Hyderabad bench had approved Adani Power’s plan in August. Through the acquisition, Adani Power aims to enhance its status as India’s leading private-sector power producer, increasing its operational power generation capacity from 15,250 MW to 15,850 MW, the company said. How Adani acquired LAPL The acquisition faced delays owing to competitive bids from various parties, including Aditya Birla ARC, Vedanta, Edelweiss ARC and Jindal Power.

Power Acquisition Plan Nclt Adani Coc Lapl Nclat Issues  adani  lapl  coc  nclat  issues  plea  company  resolution  lanco  notice  contesting  mw  approved  acquisition  plan  power

History of this topic

Competition Commission clears acquisitions by JSW Energy, Shell, Adani Infra
3 weeks, 4 days ago

Competition Commission clears acquisitions by JSW Energy, Shell, Adani Infra

Live Mint  

New Delhi: The Competition Commission of India has approved seven acquisitions, including those by JSW Energy Ltd, Shell Plc and Adani Infra Ltd. JSW Energy Ltd has got green signal from the regulator for its full acquisition of KSK Mahanadi Power Company Ltd, an insolvent company, having coal-based power project in Chhattisgarh. CCI said it has also cleared the acquisition …

Adani to restore full power to Bangladesh in days but differences remain, say sources
1 month, 2 weeks ago

Adani to restore full power to Bangladesh in days but differences remain, say sources

The Hindu  

Adani Power has agreed to fully restore supply from a 1,600 MW India power plant to Bangladesh in a few days after a gap of three months but has rejected Dhaka's request for discounts and tax benefits, two sources told Reuters. Ahead of summer demand and on Bangladesh Power Development Board's request, Adani Power has agreed to resume full supplies …

NCLT approves JSW Energy’s ₹16,000 crore bid to buy KSK Mahanadi Power
1 month, 2 weeks ago

NCLT approves JSW Energy’s ₹16,000 crore bid to buy KSK Mahanadi Power

The Hindu  

In a major development, National Company Law Tribunal, Hyderabad on Thursday approved JSW Energy Ltd’s ₹16,084.08 crore resolution plan to acquire bankrupt KSK Mahanadi Power Company Ltd. As per the approved plan, against the admitted claims of over ₹26,094 crore, the KSK Mahanadi’s creditors will get ₹16,084.08 crore. The plan provides for upfront cash payment of ₹15,985.08 crore to financial …

Top news of the day: January 24, 2025
2 months ago

Top news of the day: January 24, 2025

The Hindu  

Bhandara Ordnance factory blast: Four dead and five injured, Rescue operation continues Maharashtra Chief Minister Devendra Fadnavis said that according to preliminary information, 13 to 14 workers were stuck after the roof of a unit collapsed in the blast at the Bhandara ordnance factory. Mr. Fadnavis, in a post on X, said, “five people were rescued, and the district collector …

‘False and misleading’: Adani Group denies cancellation of Sri Lanka’s $440 million power purchase deal; Here’s why
2 months ago

‘False and misleading’: Adani Group denies cancellation of Sri Lanka’s $440 million power purchase deal; Here’s why

Live Mint  

The Adani Group denied the cancellation of its Sri Lanka power deal on Friday, January 24, dismissing the media reports as 'false and misleading'. The spokesperson of the ports-to-power conglomerate stated on Friday that Adani’s 484 MW wind power projects in Sri Lanka's Mannar and Pooneryn have not been cancelled, and the reports stating otherwise are “false and misleading”. Adani …

Adani Green Energy: Sri Lanka revokes power purchase deal
2 months ago

Adani Green Energy: Sri Lanka revokes power purchase deal

The Hindu  

Sri Lanka has revoked a 2024 power purchase agreement with Adani Green Energy — for a proposed wind power plant in the island’s Northern Province — following corruption allegations, news agency AFP reported on Friday. When asked about the revocation of the power purchase agreement, a media spokesman of the Adani Group said: ”The Sri Lankan Cabinet’s decision of 2 …

Adani Power share price jumps as board declares date to announce Q3 results 2025
2 months, 1 week ago

Adani Power share price jumps as board declares date to announce Q3 results 2025

Live Mint  

Adani Power Q3 results date: Adani Power on Thursday, January 22 informed bourses that its board will meet next week to consider and approve the financial results for the December 2024 quarter. Adani Power said its board is slated to meet on Wednesday, January 29 to consider the unaudited financial results for the quarter and the nine months ended December …

Adani, under bribery scrutiny, pressed by Bangladesh to reopen power deal
3 months, 1 week ago

Adani, under bribery scrutiny, pressed by Bangladesh to reopen power deal

Deccan Chronicle  

Dhaka: Bangladesh's interim government has accused energy supplier Adani Power of breaching a multi-billion-dollar agreement by withholding tax benefits that a power plant central to the deal received from New Delhi, according to documents seen by Reuters. Bangladesh's de facto power minister Muhammad Fouzul Kabir Khan told Reuters the country now had enough domestic capacity to cope without the Adani …

Adani, under bribery scrutiny, pressed by Bangladesh to reopen power deal
3 months, 1 week ago

Adani, under bribery scrutiny, pressed by Bangladesh to reopen power deal

The Hindu  

Bangladesh’s interim government has accused energy supplier Adani Power of breaching a multi-billion-dollar agreement by withholding tax benefits that a power plant central to the deal received from New Delhi, according to documents seen by Reuters. Adani Group has called the U.S. allegations “baseless.” Tax Exemptions Adani Power’s Godda plant runs off imported coal and was built to serve Bangladesh. …

Amid payment dispute, Bangladesh seeks to reopen power deal with Adani using bribery charges: Report
3 months, 1 week ago

Amid payment dispute, Bangladesh seeks to reopen power deal with Adani using bribery charges: Report

Hindustan Times  

Bangladesh's interim government has reportedly raised concerns over a multi-billion-dollar agreement with Adani Power, accusing the Gautam Adani-led company of not passing on tax benefits related to a power plant critical to the deal, reports Reuters. Bangladesh has been facing delays in payments to Adani Power since the supply began in July 2023, and the two sides are in dispute …

India’s Adani says his group is committed to compliance after US bribery and fraud charges
3 months, 4 weeks ago

India’s Adani says his group is committed to compliance after US bribery and fraud charges

Associated Press  

NEW DELHI — Indian tycoon Gautam Adani said his conglomerate is committed to “world-class regulatory compliance” after being indicted in the U.S. on fraud charges and an alleged bribery scheme worth millions of dollars, his first remarks since the accusations surfaced. And every obstacle becomes a stepping stone for a more resilient Adani Group,” Adani said late Saturday at an …

Adani Power: Former CM Jagan Reddy to serve defamation notices to media houses
4 months ago

Adani Power: Former CM Jagan Reddy to serve defamation notices to media houses

Deccan Chronicle  

Vijayawada: Reacting to the alleged Andhra Pradesh link in the Gautam Adani matter and his statement that third parties like Adani were not involved in the deed, former Andhra Pradesh Chief Minister and YSRCP chief YS Jagan Mohan Reddy asked how he could be involved and said that it is originated with Solar Energy Corporation of India Limited. He further …

Adani allegations shine spotlight on India’s clean energy conundrum
4 months ago

Adani allegations shine spotlight on India’s clean energy conundrum

The Hindu  

Published : Nov 28, 2024 11:22 IST - 4 MINS READ Bribery allegations against the Adani Group founder Gautam Adani have highlighted the growing problem India’s renewable energy developers face in finding buyers for the power they generate. The challenges were stark in the case of Adani Green, India’s largest renewable energy company, which took over three years to strike …

Adani bribery case: Andhra minister says checking if power deals can be scrapped
4 months ago

Adani bribery case: Andhra minister says checking if power deals can be scrapped

India Today  

Andhra Pradesh is reviewing government files to explore the possibility of scrapping a power supply contract linked to the Adani Group, Reuters reported. The development comes in the wake of a New York court indicting Adani Group chairperson Gautam Adani and seven others for promising USD 265 million in bribes to states, including Andhra Pradesh, to obtain contracts. Finance Minister …

Bangladesh seeks review of power deals by Sheikh Hasina, including one with Adani Group
4 months ago

Bangladesh seeks review of power deals by Sheikh Hasina, including one with Adani Group

Hindustan Times  

A review committee under the Bangladesh power ministry suggested investigating bilateral power purchase agreements signed by exiled former Prime Minister Sheikh Hasina with different business conglomerates, including India's Adani Group, news agency PTI reported. The interim government, headed by Chief Adviser Muhammad Yunus, had formed a committee to review power purchase contracts signed under the Quick Enhancement of Electricity and …

‘No engagement with Adani in Odisha, claims incorrect’: BJD clarifies after BJP attack over Gautam Adani ’bribe’ charges
4 months, 1 week ago

‘No engagement with Adani in Odisha, claims incorrect’: BJD clarifies after BJP attack over Gautam Adani ’bribe’ charges

Live Mint  

The Biju Janata Dal on Friday issued a clarification regarding power purchase agreements in Odisha, and emphatically denied allegations that state government officials took bribes from the Adani group to supply renewable energy to the state from the central pool. In the written exposition, the BJD claimed that the power purchase agreement made three years ago was between two government …

Stocks to Watch: Adani Group stocks, Raymond, Vedanta, Hyundai Motor, SJVN and more
4 months, 1 week ago

Stocks to Watch: Adani Group stocks, Raymond, Vedanta, Hyundai Motor, SJVN and more

Live Mint  

Here’s a quick look at stocks likely to be in focus in today's trade. Adani Stocks: Gautam Adani, his nephew Sagar Adani, and associates have been charged by U.S. authorities with defrauding investors and paying $265 million in bribes to Indian officials for solar energy contracts. Amid these allegations, Kenyan President William Ruto canceled deals with the Adani Group, including …

After U.S. indictment, Adani Group will face greater pressure in Bangladesh over power deal, says expert
4 months, 1 week ago

After U.S. indictment, Adani Group will face greater pressure in Bangladesh over power deal, says expert

The Hindu  

Indictment of Gautam Adani and several top officials of the Adani conglomerate in the U.S. may become a factor in future negotiations between the Adani Group and the interim government in Bangladesh, energy experts in Dhaka have said. But after the U.S. indictment, that space of dialogue may shrink as the group is likely to face greater pressure from Bangladesh …

Bangladesh High Court orders high-level probe into power deals with Adani group amid supply cuts: Report
4 months, 1 week ago

Bangladesh High Court orders high-level probe into power deals with Adani group amid supply cuts: Report

Live Mint  

Bangladesh's High Court ordered the formation of a high-level enquiry committee comprising international energy and law experts to reevaluate all electricity-related agreements with the Adani group, The Business Standard, a local news portal, reported on Tuesday, November 19. Adani signed the 25-year power purchase agreement in 2017; at that time, no imported coal-based power plants were operational in Bangladesh, as …

Adani Power Soars 3% on ₹5,000 Crore Fundraise Move
5 months ago

Adani Power Soars 3% on ₹5,000 Crore Fundraise Move

Live Mint  

Adani Power shares experience a surge in trading activity, with their stock price rising by over 3% on Thursday. The surge follows the announcement of a board meeting scheduled for October 28th to consider and approve a fundraising proposal worth ₹5,000 crore. The company plans to raise funds through a public issue and/or private placement of non-convertible debentures, with the …

'Rigged deal': Congress attacks Mahayuti government over Adani winning bid to supply power to Maharashtra
6 months, 2 weeks ago

'Rigged deal': Congress attacks Mahayuti government over Adani winning bid to supply power to Maharashtra

The Hindu  

With the Adani Group winning a bid to supply 6,600 MW of bundled renewable and thermal power to Maharashtra, the Congress on Sunday alleged that it was a "rigged deal" facilitated by the Mahayuti government, which it claimed was "tottering towards a landslide defeat" in the upcoming assembly polls. The opposition party's attack came after the Adani Group won a …

‘Shocking details soon’: Congress on Adani winning 6,600 MW power bid in Maharashtra ahead of elections
6 months, 2 weeks ago

‘Shocking details soon’: Congress on Adani winning 6,600 MW power bid in Maharashtra ahead of elections

Hindustan Times  

Senior Congress leader Jairam Ramesh on Sunday lashed out at the Maharashtra government for awarding a power contract to the Adani Group, calling it ‘yet another Modani enterprise’ – an apparent jibe at Prime Minister Narendra Modi's perceived proximity to the billionaire industrialist. All about Adani's power bid Adani Power won the bid to supply a mix of renewable and …

Bangladesh's Interim Govt To Review Adani Power Deal And Other Indian Agreements: Report
6 months, 2 weeks ago

Bangladesh's Interim Govt To Review Adani Power Deal And Other Indian Agreements: Report

ABP News  

Indian businesses operating in Bangladesh, including Adani Group, are facing increased scrutiny from the interim government led by Muhammad Yunus, according to a report by The Indian Express. In addition to Adani Power, other Indian firms such as PTC India, NVVL Ltd, and Semcorp Energy India are involved in power supply to Bangladesh. Currently, Indian firms charge an average power …

Adani Power consortium bid for Coastal Energen stayed
6 months, 3 weeks ago

Adani Power consortium bid for Coastal Energen stayed

New Indian Express  

NEW DELHI: The Chennai bench of the National Company Law Appellate Tribunal has stayed the NCLT order approving the resolution plan of the consortium of Dickey Alternative Investment Trust and Adani Power for acquisition of assets of Chennai-based power generation company Coastal Energen. The promoter of the power company has contended that Adani Power piggy-backed DAIT to get a back-door …

NCLT approves Dickey Alternative, Adani Power consortium resolution plan for Coastal Energen
7 months ago

NCLT approves Dickey Alternative, Adani Power consortium resolution plan for Coastal Energen

The Hindu  

India’s National Company Law Tribunal on Friday approved Dickey Alternative Investment Trust and Adani Power Limited’s ₹3,335.52 crore resolution plan for bankrupt Coastal Energen Private Limited, which owns and operates an imported coal-based thermal power plant at Tuticorin, Tamil Nadu. In February, the Dickey Alternative Investment Trust and Adani Power Limited received approval from Competition Commission of India for acquiring …

NCLT approves Sarda Energy’s resolution plan for SKS Power
7 months, 2 weeks ago

NCLT approves Sarda Energy’s resolution plan for SKS Power

Live Mint  

The National Company Law Tribunal has approved Sarda Energy and Mining’s resolution plan for SKS Power Generation, as part of the corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016. In October 2023, after objections were raised, the NCLT remanded SEML's resolution plan to SKS Power Generation's lenders for reconsideration. This came after the resolution professional representing SKS …

Sri Lanka's SC seeks response from Govt, Adani group on objections against wind power project
9 months, 1 week ago

Sri Lanka's SC seeks response from Govt, Adani group on objections against wind power project

Deccan Chronicle  

Colombo: Sri Lanka's Supreme Court has given Prime Minister Dinesh Gunawardena, the Cabinet and the Adani Group three weeks to file preliminary objections to a petition filed by an environmental group against the wind power project undertaken by the Indian conglomerate in the country. Sri Lanka's Adani Group renewable project entails two wind energy projects; a 250 MW in the …

Adani Power Q4 Results: Revenue Grows 29% YoY to Rs 13,787 Crore
10 months, 4 weeks ago

Adani Power Q4 Results: Revenue Grows 29% YoY to Rs 13,787 Crore

ABP News  

Adani Power Ltd, a part of Adani portfolio companies, has announced the financial results for the fourth quarter ended March 31, 2024. Adani Power is a key component of our long-term strategy, supplying reliable base load power across a vast part of the country, executing benchmark-setting projects, creating assets of national importance, and acting as the balancing supply to enable …

Adani Power shares at fresh record high, surges 18% in 4 sessions. Here's why
11 months, 3 weeks ago

Adani Power shares at fresh record high, surges 18% in 4 sessions. Here's why

Hindustan Times  

Adani Power share price: Shares of Adani Power hit a fresh record high today. Adani Power share price: On the BSE, the stock rallied 5 per cent to a record high of ₹ 611.75. Adani Power share price: Adani Power's market capitalisation Currently, Adani Power's market capitalisation stands at ₹2.33 lakh crore and it is ranked 37th among all listed …

Adani Ports, Adani Ent share price gain over 2-3%; Here’s why
1 year, 8 months ago

Adani Ports, Adani Ent share price gain over 2-3%; Here’s why

Live Mint  

Adani Group stocks gained around 2% to 3% each on Monday, with Adani Enterprises share price rallying over 3%. The Adani Group on July 15 announced the commissioning of India’s first transnational project at Godda in Jharkhand to supply power to the Bangladesh electricity grid. Gautam Adani, Chairman of Adani Group, called on Bangladesh Prime Minister Sheikh Hasina in Dhaka …

Adani Group commissions India’s first transnational power project; details here
1 year, 8 months ago

Adani Group commissions India’s first transnational power project; details here

Live Mint  

The Adani Group on July 15 announced the commissioning of India’s first transnational project at Godda in Jharkhand to supply power to the Bangladesh electricity grid. Chairman Gautam Adani called on Bangladesh Prime Minister Sheikh Hasina in Dhaka on Saturday following the full load commencement of power supply to Bangladesh from the Group’s Ultra Super-Critical Thermal Power Plant in Godda. …

Adani Power begins electricity supply from Jharkhand plant to Bangladesh
1 year, 11 months ago

Adani Power begins electricity supply from Jharkhand plant to Bangladesh

Hindustan Times  

Adani Power on Sunday said that it has begun supplying electricity from its plant in Godda in Jharkhand to Bangladesh. Adani Power Ltd, a part of the diversified Adani Group, has commissioned the first 800 MW ultra-super-critical thermal power generation unit at Godda in Jharkhand. The electricity supplied from Godda will significantly improve the situation in the neighbouring country as …

Adani Power’s Jharkhand unit begins operations, to supply power to Bangladesh
1 year, 11 months ago

Adani Power’s Jharkhand unit begins operations, to supply power to Bangladesh

Live Mint  

Mumbai: Adani Power Ltd, part of billionaire Gautam Adani's group of companies, on Friday said that its power plant in Jharkhand has begun commercial operations. The facility is part of the 2x800 MW ultra-supercritical power project of Adani Power Ltd, according to an exchange filing. APJL, a wholly-owned subsidiary of Adani Power, has a 25-year power purchase agreement to supply …

No Issues With $4.5 Bn Adani Power Project, It’s 'Very Important' And 'Progressing': Bangladesh Minister In India
2 years ago

No Issues With $4.5 Bn Adani Power Project, It’s 'Very Important' And 'Progressing': Bangladesh Minister In India

ABP News  

New Delhi: Bangladesh has said that the country is going ahead with the $4.5 billion Adani Power Project as it does not have “any issues” with the Indian conglomerate and that it is an “important project” of Bangladesh. The deal also entailed the construction of a $1.7 billion power manufacturing unit in Jharkhand’s Godda district for supplying power to Bangladesh. …

Adani Power agrees to sign supplementary PPA with Haryana
2 years ago

Adani Power agrees to sign supplementary PPA with Haryana

Hindustan Times  

Eight months after the Haryana Council of Ministers had approved the signing of a supplementary power purchase agreement with Adani Power Ltd to resolve the impasse over the supply of 1,424 MW of contracted power to the state, the under-fire Adani conglomerate on Tuesday yielded. The Adani Power Ltd which had dithered from signing the mutually agreed supplementary PPA with …

Adani said to decide against bid for stake in power trader PTC
2 years, 1 month ago

Adani said to decide against bid for stake in power trader PTC

Live Mint  

Indian billionaire Gautam Adani has decided against bidding for a stake in state-backed electricity trader PTC India Ltd., people familiar with the matter said, as his business empire looks to preserve cash amid criticism from a US short-seller. State-owned entities NTPC Ltd., NHPC Ltd., Power Grid Corp. of India and Power Finance Corp. have been working with an adviser to …

Adani group says no refinancing issues in bid to calm jittery investors
2 years, 1 month ago

Adani group says no refinancing issues in bid to calm jittery investors

Hindustan Times  

Adani group said on Tuesday that its companies face no material refinancing risk, or near-term liquidity issues, in its latest attempt to calm investors spooked by a U.S. short-seller's critical report on its business practices. In a long-awaited credit report issued by Adani to Indian exchanges on Tuesday, the apples-to-airports group said there was "no material refinancing risk and near-term …

Adani eyeing stake in state-backed power trader PTC India
2 years, 2 months ago

Adani eyeing stake in state-backed power trader PTC India

Live Mint  

A stake for sale in state-backed electricity trader PTC India Ltd. is attracting initial interest from potential suitors including Asia’s richest man Gautam Adani, according to people familiar with the development. State-owned entities NTPC Ltd., NHPC Ltd., Power Grid Corp. of India and Power Finance Corp. are working with an adviser to weigh selling their stakes of around 4% each, …

Indian state-run power firms close to buying Lanco asset for $365 mn: Report
2 years, 3 months ago

Indian state-run power firms close to buying Lanco asset for $365 mn: Report

Live Mint  

Four Indian state-run power companies are close to buying a 1,980 megawatt stranded power plant from collapsed conglomerate Lanco Infratech for 30.2 billion Indian rupees, outbidding Adani Group and Reliance Industries, three government sources said. The state companies - Power Finance Corp Ltd, REC Ltd SJVN Ltd and Damodar Valley Corp - aim to acquire the coal-fired power plant of …

Rahul Gandhi upset over Indian company Adani winning power project bid in Sri Lanka
2 years, 9 months ago

Rahul Gandhi upset over Indian company Adani winning power project bid in Sri Lanka

Op India  

Congress leader Rahul Gandhi has now targeted the BJP and Prime Minister Modi from the shoulders of the left-liberal outlet The Wire, which published an article suggesting the PM’s role in influencing a deal in Sri Lanka involving the Indian enterprise Adani group. Even though the Sri Lankan president rejected any such collusion or favour for any specific company, Rahul …

Adani Power M-Cap Hits Rs 1 Lakh Crore, Sixth Group Company To Reach Milestone
2 years, 11 months ago

Adani Power M-Cap Hits Rs 1 Lakh Crore, Sixth Group Company To Reach Milestone

ABP News  

New Delhi: Adani Power became the sixth group company to hit a market capitalisation of Rs 1 lakh crore as the stock soared to an all-time high. According to news reports, shares of Adani Power have surged over 165 per cent this year, while it gained 46 per cent in April only. Earlier, the five other companies of Adani Group …

Adani Power’s Q3 loss at ₹1,181 crore, revenue climbs to ₹6,667 crore
6 years, 1 month ago

Adani Power’s Q3 loss at ₹1,181 crore, revenue climbs to ₹6,667 crore

Live Mint  

Ahmedabad: Adani Power Ltd today posted a loss of ₹1,180 crore for the third quarter ended December 31. We continue to see a long-term growth potential in the thermal power sector, which is bolstered by robust economic growth and the government’s fruitful efforts in addressing challenges faced by the sector,” stated Gautam Adani, chairman of the Adani group. Adani Power …

Adani to win 3 out of 7 power projects under Samadhan scheme
6 years, 2 months ago

Adani to win 3 out of 7 power projects under Samadhan scheme

Live Mint  

Mumbai: Lenders to seven troubled power projects are close to resolving loans totalling over ₹ 74,000 crore outside the bankruptcy framework, including by selling three of the companies to Adani Group. Among the rest, RattanIndia Power Ltd’s lenders would settle for a haircut of around 50% of the distressed power company’s outstanding loans of ₹ 7,108 crore; and SKS Power …

CCI clears Renascent Power’s 75% stake buy in Prayagraj Power Generation
6 years, 2 months ago

CCI clears Renascent Power’s 75% stake buy in Prayagraj Power Generation

Live Mint  

New Delhi: The Competition Commission on Tuesday said it has approved Renascent Power Ventures’ acquisition of 75% stake in Prayagraj Power Generation. In November, Renascent Power, a wholly-owned subsidiary of Resurgent Power Ventures Pte Ltd, said it would acquire 75.01% stake in Prayagraj Power Generation Company Ltd. In a tweet, the Competition Commission of India said it has approved acquisition …

Gujarat relief for Tata Power, Adani Power underlines sector’s harsh reality
6 years, 5 months ago

Gujarat relief for Tata Power, Adani Power underlines sector’s harsh reality

Live Mint  

Shares of Tata Power Co. Ltd and Adani Power Ltd rallied 8-10% on Friday after the Gujarat government submitted a report to the Supreme Court, suggesting relief for companies running imported coal-based power plants. The plants are losing money due to cost under-recoveries, so much so that Tata Power’s troubled Mundra plant was not even able to earn sufficient money …

Decision on power NPAs likely by 10 October
6 years, 6 months ago

Decision on power NPAs likely by 10 October

Live Mint  

New Delhi/Mumbai: Lenders to stressed power assets may decide on debt recasts, sale of assets and one-time settlements by 10 October, failing which they may approach bankruptcy courts, two people aware of the deliberations at a Thursday meeting of lenders in Delhi said. Sinha on the issue, comes in the backdrop of the Supreme Court granting interim relief to stressed …

Maharashtra electricity regulator concludes hearing on RInfra-Adani deal
6 years, 9 months ago

Maharashtra electricity regulator concludes hearing on RInfra-Adani deal

Hindustan Times  

The Maharashtra Electricity Regulatory Commission on Thursday concluded the hearing of the 100% stake sale of Reliance Infrastructure Ltd.’s integrated Mumbai power business to Adani Transmission Ltd. RInfra’s Reliance Energy supplies power to nearly three million residential, industrial and commercial consumers in the suburbs of Mumbai. Reliance Infrastructure Ltd. has already received the approval of Competition Commission of India and …

Adani, Resurgent among 4 bidders for Avantha Power subsidiary
6 years, 9 months ago

Adani, Resurgent among 4 bidders for Avantha Power subsidiary

Live Mint  

Mumbai: At least four bidders have expressed initial interest in buying a controlling stake in Jhabua Power Ltd, a unit of Avantha Power and Infrastructure, two people aware of the development said. The initial interest has come from strategic bidders—Adani Power, and Resurgent Power Ventures Pte Ltd and Phoenix ARC, according to the people cited above, who spoke on condition …

Supreme Court stops Adani, Tata Power from charging higher prices to cover imported coal costs
7 years, 11 months ago

Supreme Court stops Adani, Tata Power from charging higher prices to cover imported coal costs

Firstpost  

In 2010, Indonesia adopted new benchmark coal prices leading to an increase in the price of coal imported from the country. New Delhi: India’s top court ruled on Tuesday that Adani Power Ltd cannot charge its customers more to cover a surge in the cost of imported coal, overturning a decision by a power regulator in December. Both Adani Power …

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