Lenders ask KSK Mahanadi Power Company bidders to better Adani offer

Quick Summary:

Several banks, including the State Bank of India, have sold their loans to asset reconstruction companies to recover part of their dues.

Later, the plant received coal linkage under the “Shakti” scheme of the power ministry but had to import coal due to a shortfall.

However, due to the reluctance of other lenders and the lack of buyers, the process under this scheme was halted, and the project was moved to the bankruptcy court.

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Article Details

Category: BusinessFinance

Markets: India

Topics: NTPC JSW Energy Bankruptcy Adani Group Coal India Vedanta Insolvent companies KSK Mahanadi Power Company Jindal Steel and Power

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-21 @ 19:32:12 (15 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 390 words

Reading Time: 3 minutes read

Sentences: 16 lines

Sentence Length: 25 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 22195808

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