Supreme Court upholds Adani Power resolution plan
after close1 source ↓written by the desknot a recommendation
- were deemed contingent
- ₹12 cr
- nominal value
- ₹1
The Supreme Court upheld the insolvency resolution plan of Essar Power MP Limited, now Mahan Energen Limited, rejecting an appeal from UP Jal Vidyut Nigam Limited (UPJVNL). The court confirmed that UPJVNL's claims of ₹12 cr were deemed contingent and admitted at a nominal value of ₹1. This ruling reinforces the resolution process, impacting stakeholders involved in the power sector.
• Court ruling supports resolution plan
• UPJVNL's claims significantly reduced
• Potential implications for future insolvency cases in the sector
Not investment advice. For informational purposes only.