Europe’s largest renewable energy company Statkraft is set to become the first MNC player to buy an Indian power company under the insolvency and bankruptcy code (IBC) process after national company law tribunal (NCLT) approved its Rs. 180 crore offer for Lanco Mandakini Hydro Energy, as per court documents reviewed by ET. Oslo-headquartered Statkraft was […]
IBC can’t resolve power sector crisis, but ARCs can: Secretary SC Garg
“Not every kind of industry or every kind of asset can be best reconstructed through the IBC,” Garg told an event on ARCs organised by Assocham. MUMBAI: Financially crippled power companies cannot be revived or resolved under the provisions of the existing bankruptcy laws, but asset reconstruction companies can better deal with them, a senior […]
