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Reputation: 642,681  •  Oct 16, 2023 6:41 AM
SKS Power lenders to review Torrent's resolution proposal next week
SKS Power lenders to review Torrent's resolution proposal next week
Lenders of SKS Power are set to meet next week to review the resolution plan presented by Torrent Power. This comes after the bankruptcy court noted that the decision to sell the power company to Sarda Energy and Minerals was made based on incomplete financial data. Other companies, including Jindal Power Ltd and Vantage Point Asset Management, were also bidding for the power producer. Torrent Power has appealed, stating that its offer included an upfront cash payment of ₹2,000 crore, while Sarda's offer included ₹400 crore as deferred payment.
The Economic Times

https://economictimes.indiatimes.com/industry/energy/powe...
#TORNTPOWER #SARDAEN #JINDALSTEL

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