NHPC's takeover plan of crisis-hit Teesta-VI hydro power unit faces hiccups

NHPC is also looking at more stressed hydro units but only through the NCLT route

NHPC’s takeover plan of Lanco Teesta Hydro Power’s beleaguered hydro power unit in Sikkim Teesta-VI (500 MW) is facing hiccups, after approval from the Cabinet. 

The National Company Law Tribunal (NCLT), which approved the bid of NHPC, will hear the matter again over the issue of escalated cost.
 

A senior executive said the plant suffered damages during the course of matter in the NCLT. “The amount totals to Rs 9 crore which is not that much but changes the offer amount. So, NCLT will hear the case again and approve the revised cost in July,” he said.

 NHPC emerged the highest bidder