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Torrent Power challenges NCLT nod to Sarda Energy’s resolution plan for SKS Power

Torrent Power has moved the National Company Law Appellate Tribunal to challenge the NCLT order approving Sarda Energy and Mining's resolution plan for the debt-ridden SKS Power Generation. Last week, the Mumbai bench of the National Company Law Tribunal approved Sarda Energy and Mining's bid and rejected applications, including that of Torrent Power, to acquire SKS Power Generation. However, the …

NCLT approves Sarda Energy’s resolution plan for SKS Power

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 …

Sarda Energy

Mumbai: The National Company Law Tribunal has remanded the resolution plan submitted by Sarda Energy and Mining to the lenders of SKS Power Generation Ltd. The development comes after counsel for the resolution professional of SKS filed an application for the approval of the resolution plan submitted by Nagpur-based Sarda Energy, the successful resolution applicant. “The longer the delay in …