Insolvency Law In Review - December 2020 livelaw.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from livelaw.in Daily Mail and Mail on Sunday newspapers.
Jalpower Corporation (JPCL) was executing 120-mw Rangit Stage-IV Hydroelectric Project in Sikkim.
JPCL is currently undergoing Corporate Insolvency Resolution Process which was initiated on 9 April 2019 vide an order of NCLT and Sanjay Kumar Deewani was appointed as Interim Resolution Professional (IRP).
In its resolution proposal (RP), NHPC had proposed a resolution amount of Rs 165 crore as full and final settlement for all stake holders including financial, operational and other creditors.
NHPC s RP was found to be feasible and viable and the company was declared as the successful resolution applicant by Committee of Creditors (CoC) on 24 January 2020.
Earlier, NHPC had successfully acquired Lanco Teesta Hydro Power through the NCLT process.
Insolvency Law In Review – November 2020 livelaw.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from livelaw.in Daily Mail and Mail on Sunday newspapers.