Mumbai : NTPC has decided to acquire the stressed power projects undergoing insolvency proceedings in the National Company Law Tribunal (NCLT), in a bid to get fairer deals. The project going under insolvency deals has got a discount of up to 70% or even more from secured creditors.
The secured creditors have a say on deals in the NCLT while views of unsecured creditors are not considered. Stressed power projects have been in favour of resolving issues and avoiding distress sale under the insolvency proceedings. However, company would have greater chances of getting better deals via NCLT route.
NTPC is the largest power utility company in India and has presence in Coal, Gas, Solar PV, Hydro and Wind Power Generation and Coal Mining.