Lanco Amarkantak Power approves resolution plan submitted by Adani Power

The Committee of Creditors of Lanco Amarkantak Power Limited has approved the resolution plan submitted by Adani Power Limited. In this regard, Adani Power has received a Letter of Intent from Lanco Amarkantak's resolution professional approving company's resolution plan on March 4, 2024.

"This is to inform that the Committee of Creditors ('COC') of Lanco Amarkantak Power Limited ('LAPL'), a company undergoing Corporate Insolvency Resolution Process ('CIRP') under the Insolvency and Bankruptcy Code 2016 ('IBC') has approved the Resolution Plan submitted by Adani Power Limited ('APL')," Adani Power said in a filing.

Lanco Amarkantak owns and operates a 2x300 MW (600 MW) thermal power plant (PhaseI) at Pathadi Village in Korba District of Chhattisgarh. The Phase-I capacity is tied up with Haryana and Madhya Pradesh DISCOMs under long term Power Purchase Agreements. It is also setting up 2x660 MW (1320 MW) expansion capacity under Phase-II.