The National Company Law Tribunal has approved the resolution plan submitted by Adani Power Limited for the acquisition of Essar Power’s 1,200-MW thermal power project in Mahan, Madhya Pradesh. The deal size is expected to be around ₹2,800 crore.
Essar Power MP Ltd is undergoing insolvency resolution under the Insolvency and Bankruptcy Code. It owns a 1,200-MW thermal power plant in Singrauli District, Madhya Pradesh.
In June, Adani Power had emerged as the successful bidder for the Essar Power’s 1,200-MW project.