NCLT relief unlikely for two dozen stressed power projects under IBC

The RBI in February mandated banks to classify even one-day delay in debt servicing as default

More than two dozen stressed power projects which could or are facing insolvency proceedings will find hard to get buyers as they are ‘incomplete’. In case these companies do not find a bidder, they will have to face liquidation.

Among the stressed assets which are undergoing strategic debt restructuring (SDR), which are incomplete and the commissioning is also uncertain are Rattan India Amravati, Athena Chhattisgarh, GMR Vemagiri, three projects of Lanco Infra, Vandana Vidyut and JAL Power. The latest status report by the Central Electricity Authority (CEA) has listed these projects under the ‘uncertain completion/work held up’ category.

The RBI in February