JSW Energy said that its Committee of Creditors have approved the company’s resolution plan under the corporate insolvency resolution process for Ind-Barath (Utkal) which owns a 700 MW under-construction thermal power plant in Odisha. The closure of the transaction shall be subject to approval from NCLT.
Australian asset manager Macquarie has moved the National Company Law Tribunal (NCLT) to start insolvency proceedings against Ind-Barath Energy (Utkal).
JSW Energy is also said that it is in exclusive discussions to acquire GMR Kamalanga Energy which owns a 1050 MW operating thermal power plant in Odisha.