Road to resolution: Almost all Lanco units to land in insolvency courts

Lanco Anpara Power, with a fully operational 1,200 Mw power project in Uttar Pradesh, had defaulted on repayment to banks ever since it had entered into a PPA litigation with the state power utilities

Almost all the operational and under-construction power assets of debt-laden Lanco group are expected to land in insolvency tribunals as the lenders were not able to conclude resolution for any of the remaining three large projects of the company before the August 27 deadline set by the Reserve Bank of India (RBI).
 
“Going by the RBI’s February 12, Circular, which gave 180 days time till August 27 to resolve large debt accounts of the size of over Rs 200 billion, Lanco Kondapalli (Rs 33 billion), Lanco Anpara (Rs 60 billion), and Lanco Vidarbha (Rs 45 billion) should also be