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Deal: NCLT Hyderabad approves Adani Power’s resolution plan for acquisition of Lanco Amarkantak for a total resolution amount of over INR 4000 Crores

22 Aug 2024

Government notifies sections of the Telecommunications Act

Lanco Amarkantak Power Limited runs a 2×300 MW (600 MW) thermal power plant in Chhattisgarh and was admitted into corporate insolvency resolution process (CIRP) in September 2019 due to defaults in loans advanced towards the second phase of the plant.

This was a unique process where resolution plans/ offers were submitted thrice over in the interest of value maximization, making it one of the longest run processes in the country since the IBC came into force. On 26 March 2024, the CCI had accorded its approval for the 100% acquisition of Lanco Amarkantak by Adani Power Limited.

On 21 August 2024, the NCLT Hyderabad approved Adani Power’s plan thereby bringing the five year long resolution process to an end. The fine print of the order is awaited.

Trilegal Dispute Resolution team led by Partner Ramakant Rai along with Partners Ashish Bhan, Mohit Rohatgi and supported by attorneys Aayush Mitruka and Ravin Kapur, Counsels; Lisa Mishra, Senior Associate; Shivam Sharan, Ashwini Kumar Tak, Lohitaksh Shively, Associates, advised and acted for the Resolution Professional of Lanco Amarkantak in its CIRP.

About Trilegal

Trilegal is one of India’s leading law firms, with expertise across the full spectrum of corporate legal services. Trilegal has offices in four key cities of India.

Trilegal has been recognised as the India Deal Firm of the Year by Asian Legal Business (ALB) India Law Awards 2023; one of the ‘Best Overall Law Firms’ at the India Business Law Journal Indian Law Firm Awards 2022; ‘Firm of the year’ for Client Service Excellence by Asia Law Awards 2021; “M&A Law firm of the Year” by VCCircle Awards 2020 one of the most innovative law firms in Asia in the inaugural edition of ALB Trailblazers 2020; and ‘highly commended’ in the FT RSG Innovative Lawyers Awards 2020.

For more information, please contact:

Sahil Wason
Mob: +91-8928008122 | BD@trilegal.com

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