NTPC Consortium Gets CoC Nod For Sinnar Thermal Resolution Plan

NTPC Ltd. on Saturday said the committee of creditors has approved the resolution plan submitted by its consortium with Maharashtra State Power Generation Co. Ltd. for Sinnar Thermal Power Ltd., which is undergoing corporate insolvency proceedings.

The consortium received a letter of intent from the resolution professional on Saturday, the company said in an exchange filing.

The resolution plan’s implementation is subject to conditions outlined in the letter of intent and approvals from the Delhi bench of the National Company Law Tribunal or other relevant authorities.

Sinnar Thermal Power operates a 1.35-gigawatt coal-fired plant in Nashik, Maharashtra.