NCLAT approves government acquisition of IL&FS stake
pre-market1 source ↓written by the desknot a recommendation
- of IL&FS Energy
- 50% stake
- the stake
- ₹85 cr
The National Company Law Appellate Tribunal (NCLAT) has approved the transfer of 50% stake of IL&FS Energy Development Company Ltd (IEDCL) to the Rajasthan government in Saurya Urja Company of Rajasthan Ltd, valuing the stake at ₹85 cr. This decision follows a lengthy legal process and maintains the existing creditor claims under the IL&FS resolution plan.
This acquisition is significant for the renewable energy sector, as it indicates a renewed focus on energy ventures in Rajasthan, potentially enhancing investor sentiment in the region.
Not investment advice. For informational purposes only.