NHPC signs definitive agreements for takeover of Lanco Teesta Hydro Power

NHPC has signed Definitive Agreement on 04 October 2019 for implementation of the approved resolution Plan submitted by NHPC for takeover and resolution of Lanco Teesta Hydro Power (LTHPL), who was implementing the 500 MW (125 MW x 4) Teesta VI HEP on Teesta river in Sikkim.

Hon'ble National Company Law Tribunal (NCLT), Hyderabad bench approved the resolution plan of NHPC on 26 July 2019 for the debt-ridden LTHPL. NHPC has offered Rs. 897.50 crore as Resolution Plan proceeds for the resolution of LTHPL under the Corporate Insolvency Resolution Process.

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