Adani Power update on its resolution plan for acquisition of Essar Power MP

Adani Power announced that the Committee of Creditors of Essar Power MP (EPMPL), a company undergoing insolvency resolution under the Insolvency and Bankruptcy Code, has approved the Resolution Plan submitted by Adani Power. EPMPL owns a 1,200 MW power plant in Singrauli Dist., Madhya Pradesh.

Pursuant to this approval, the Resolution Professional appointed by the Hon'ble National Company Law Tribunal, Delhi has issued a Letter of Intent dated 17 June 2021 to the Company. The closure of the transaction shall be subject to obtaining necessary approval from the NCL T and satisfaction of conditions precedent under the Resolution Plan.

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