The News Scroll 08 January 2021
Last Updated at 7:18 pm | Source: PTI
NCLT approves NHPC s resolution plan for JPCL Outlook January 08, 2021 19:18 IST NCLT approves NHPC s resolution plan for JPCL outlookindia.com 1970-01-01T05:30:00+0530
New Delhi, Jan 8 (PTI) The Hyderabad bench of the National Company Law Tribunal (NCLT) has approved state-owned NHPC s resolution plan for Jal Power Corporation Ltd (JPCL), according to a statement. JPCL is the second company after Lanco Teesta Hydro Power Ltd (LTHPL) to be acquired through the NCLT process by NHPC, NHPC said in the statement on Friday. NCLT s Hyderabad bench through its order dated December 24, 2020, approved NHPC s resolution plan for taking over JPCL, the statement said.
NCLT approves NHPC’s Rs 165 crore resolution plan for Jalpower Corp
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Last Updated: Jan 07, 2021, 11:43 PM IST
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Synopsis
JPCL was executing 120-mw Rangit Stage-IV Hydroelectric Project in Sikkim. The company is currently undergoing Corporate Insolvency Resolution Process which was initiated on April 9, 2019 vide an order of NCLT. NHPC will make upfront payment of Rs 165 crore and cost of the project is considered as Rs 943.20 crore.
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The CoC approved resolution plan was filed by resolution professional with NCLT Hyderabad Bench on January 28, 2020.
NEW DELHI: The National Company Law Tribunal (NCLT) has approved state-run NHPC’s Rs 165 crore resolution plan for taking over Jalpower Corp as going concern, an official statement said on Thursday.