Ministry of Power has affirmed that insolvency proceedings can be initiated against state-owned electricity distribution as well as generation firms in case of default of payment by the creditors. Ministry of Power has affirmed that insolvency proceedings can be initiated against state-owned electricity distribution as well as generation firms in case of default of payment […]
Grapevine: JSW, others circle Jhabua; LGT-Aspada platform may invest in AMP Energy
Avantha Group’s Jhabua Power, which is undergoing insolvency proceedings, has received expressions of interest from JSW, Adani Power, NTPC Ltd and Tata Power-backed Resurgent Power, people in the know told The Economic Times. Expressions of interest were also received from a few Singapore-based distressed asset investors and some local asset reconstruction companies, along with Vedanta […]
Moser Baer Solar fails to get new investors, to go under liquidation
Moser Baer Solar is a subsidiary of optical storage media maker Moser Baer India Ltd (MBIL), which is also facing liquidation The National Company Law Tribunal (NCLT) has directed Moser Baer Solar Ltd to go under liquidation, as the debt-ridden company failed to get any resolution plan from any firm within the mandated 270 days. […]