{"id":238640,"date":"2025-02-14T06:47:06","date_gmt":"2025-02-14T06:47:06","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2025\/02\/14\/nclt-approves-jsw-energys-16k-cr-bid-for-ksk-mahanadi-the-times-of-india\/"},"modified":"2025-02-14T06:47:06","modified_gmt":"2025-02-14T06:47:06","slug":"nclt-approves-jsw-energys-16k-cr-bid-for-ksk-mahanadi-the-times-of-india","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2025\/02\/14\/nclt-approves-jsw-energys-16k-cr-bid-for-ksk-mahanadi-the-times-of-india\/","title":{"rendered":"NCLT approves JSW Energy&#8217;s 16k cr bid for KSK Mahanadi &#8211; The Times of India"},"content":{"rendered":"<div style=\"text-align:center\"><img decoding=\"async\" src=\"https:\/\/i0.wp.com\/static.toiimg.com\/thumb\/msid-118230933,imgsize-53948,width-400,resizemode-4\/118230933.jpg?ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"NCLT approves JSW Energy&#8217;s 16k cr bid for KSK Mahanadi &#8211; The Times of India\" title=\"NCLT approves JSW Energy&#8217;s 16k cr bid for KSK Mahanadi &#8211; The Times of India\" \/><\/div><p> <br \/>\n<\/p>\n<div data-articlebody=\"1\">\n<div class=\"_s30J clearfix  \">\n<div class=\"MwN2O\">\n<div class=\"vdo_embedd\">\n<div class=\"T22zO\">\n<section class=\"D3Wk1  clearfix id-r-component leadmedia undefined undefined  VtlfQ\" style=\"top:0px\">\n<div class=\"D3Wk1\" data-ua-type=\"1\" onclick=\"stpPgtnAndPrvntDefault(event)\">\n<div class=\"zPaFh\">\n<div class=\"wJnIp\"><\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div><\/div>\n<\/div>\n<p>NEW DELHI: The National Company Law Tribunal (<!-- -->NCLT<!-- -->) has given a green light to <!-- -->JSW Energy<!-- -->&#8216;s <!-- -->resolution plan<!-- --> for <!-- -->KSK Mahanadi Power Company<!-- --> under the Insolvency &amp; Bankruptcy Code, which will result in an upfront cash recovery of around Rs 16,000 crore for financial creditors, which is around half their claim. Besides, the creditors will get a 26% stake in the company.<br \/>While the resolution process had started in 2019 the plan was finalised in Nov 2024 and submitted around a month ago. The NCLT bench, comprising members Rajiv Bharadwaj and Sanjay Puri, decided on the issue within a month, sending a strong signal that the tribunal is not sitting on proposals, especially where the amount involved is large. In fact, NCLT, IBBI and govt have been seeking to expedite cases.<br \/>While there were 10 resolution applicants vying for KSK Mahanadi, there were six &#8211; including Adani Power, Capri Global, Jindal Power, NTPC Vedanta and JSW &#8211; which participated in the challenge as the resolution professional sought to maximise the realisation for creditors. Aditya Birla Asset Reconstruction Company, Prudent ARC, Power Finance Corp and REC are the largest creditors to KSK Mahanadi. Power Finance Corporation had initiated the <!-- -->insolvency process<!-- --> against the company.<br \/>The admitted claims of creditors were to the tune of Rs 26,000 crore. JSW Energy has proposed to arrange Rs 13,000 crores debt and the remaining Rs.3,084 in the form of quasi-equity. <br \/>The cash realisation is significantly higher than the fair value of Rs 9,947 crore and Rs 6,849 crore liquidation value.<\/div>\n<\/div>\n<p><script>\nvar _mfq = window._mfq || [];\n_mfq.push([\"setVariable\", \"toi_titan\", window.location.href]);\n!(function(f, b, e, v, n, t, s) {\n    function loadFBEvents(isFBCampaignActive) {\n      if (!isFBCampaignActive) {\n        return;\n      }\n      (function(f, b, e, v, n, t, s) {\n        if (f.fbq) return;\n        n = f.fbq = function() {\n          n.callMethod ? n.callMethod(...arguments) : n.queue.push(arguments);\n        };\n        if (!f._fbq) f._fbq = n;\n        n.push = n;\n        n.loaded = !0;\n        n.version = '2.0';\n        n.queue = [];\n        t = b.createElement(e);\n        t.async = !0;\n        t.defer = !0;\n        t.src = v;\n        s = b.getElementsByTagName(e)[0];\n        s.parentNode.insertBefore(t, s);\n      })(f, b, e, 'https:\/\/connect.facebook.net\/en_US\/fbevents.js', n, t, s);\n      fbq('init', '593671331875494');\n      fbq('track', 'PageView');\n    };\n    function loadGtagEvents(isGoogleCampaignActive) {\n      if (!isGoogleCampaignActive) {\n        return;\n      }\n      var id = document.getElementById('toi-plus-google-campaign');\n      if (id) {\n        return;\n      }\n      (function(f, b, e, v, n, t, s) {\n        t = b.createElement(e);\n        t.async = !0;\n        t.defer = !0;\n        t.src = v;\n        t.id = 'toi-plus-google-campaign';\n        s = b.getElementsByTagName(e)[0];\n        s.parentNode.insertBefore(t, s);\n      })(f, b, e, 'https:\/\/www.googletagmanager.com\/gtag\/js?id=AW-877820074', n, t, s);\n    };\n    function loadSurvicateJs(allowedSurvicateSections = []){\n      const section =  window.location.pathname.split('\/')[1]\n      const isHomePageAllowed = window.location.pathname === '\/' && allowedSurvicateSections.includes('homepage')\n      if(allowedSurvicateSections.includes(section) || isHomePageAllowed){\n        (function(w) {\n         function setAttributes() {\n                    var prime_user_status = window.isPrime ? 'paid' : 'free' ;\n                    w._sva.setVisitorTraits({\n                    toi_user_subscription_status : prime_user_status\n                        });\n                }\n         if (w._sva && w._sva.setVisitorTraits) {\n                    setAttributes();\n                } else {\n                    w.addEventListener(\"SurvicateReady\", setAttributes);\n          }\n          var s = document.createElement('script');\n          s.src=\"https:\/\/survey.survicate.com\/workspaces\/0be6ae9845d14a7c8ff08a7a00bd9b21\/web_surveys.js\";\n          s.async = true;\n          var e = document.getElementsByTagName('script')[0];\n          e.parentNode.insertBefore(s, e);\n        })(window);\n      }\n    }\n    window.TimesApps = window.TimesApps || {};\n    var TimesApps = window.TimesApps;\n    TimesApps.toiPlusEvents = function(config) {\n      var isConfigAvailable = \"toiplus_site_settings\" in f && \"isFBCampaignActive\" in f.toiplus_site_settings && \"isGoogleCampaignActive\" in f.toiplus_site_settings;\n      var isPrimeUser = window.isPrime;\n      var isPrimeUserLayout = window.isPrimeUserLayout;\n      if (isConfigAvailable && !isPrimeUser) {\n        loadGtagEvents(f.toiplus_site_settings.isGoogleCampaignActive);\n        loadFBEvents(f.toiplus_site_settings.isFBCampaignActive);\n        loadSurvicateJs(f.toiplus_site_settings.allowedSurvicateSections);\n      } else {\n          var JarvisUrl=\"https:\/\/jarvis.indiatimes.com\/v1\/feeds\/toi_plus\/site_settings\/643526e21443833f0c454615?db_env=published\";\n          window.getFromClient(JarvisUrl, function(config){\n            if (config) {\n              const allowedSectionSuricate = (isPrimeUserLayout) ? config?.allowedSurvicatePrimeSections : config?.allowedSurvicateSections\n              loadGtagEvents(config?.isGoogleCampaignActive);\n              loadFBEvents(config?.isFBCampaignActive);\n              loadSurvicateJs(allowedSectionSuricate);\n            }\n          })\n      }\n    };\n  })(\n    window,\n    document,\n    'script',\n  );<\/script><br \/>\n<br \/><br \/>\n<br \/><a href=\"https:\/\/timesofindia.indiatimes.com\/business\/india-business\/nclt-approves-jsw-energys-16k-cr-bid-for-ksk-mahanadi\/articleshow\/118230900.cms\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW DELHI: The National Company Law Tribunal (NCLT) has given a green light to JSW Energy&#8216;s resolution plan for KSK Mahanadi Power Company under the Insolvency &amp; Bankruptcy Code, which will result in an upfront cash recovery of around Rs 16,000 crore for financial creditors, which is around half their claim. Besides, the creditors will [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":238641,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/static.toiimg.com\/thumb\/msid-118230933,imgsize-53948,width-400,resizemode-4\/118230933.jpg","fifu_image_alt":"","footnotes":""},"categories":[604],"tags":[185864,5960,8192,289,24740,185863,273,60384,56221,8779,12158,185865,185862,41702,129480,17236,40280,272],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/238640"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=238640"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/238640\/revisions"}],"predecessor-version":[{"id":238642,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/238640\/revisions\/238642"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/238641"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=238640"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=238640"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=238640"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}