JSW Energy has completed the acquisition of 700 MW Ind-Barath Energy (Utkal) for Rs 1,047.60 crore through insolvency proceedings. Pursuant to the NCLT (National Company Law Tribunal) approval order, the resolution plan has now been implemented and the acquisition of Ind-Barath Energy (Utkal) is completed. The resolution amount of Rs 1,047.60 crore has been paid.
Now, the company holds 95 per cent equity shares of Ind-Barath Energy (Utkal) and the secured financial creditors collectively hold the balance 5 per cent, as per the terms of the resolution plan. Consequent to this transaction, Ind-Barath Energy (Utkal) has become a subsidiary of JSW Energy.
JSW Energy, part of the JSW Group, is a growing energy company. The Group has diversified interests in carbon steel, power, mining, industrial gases, port facilities, aluminium, cement and information technology.
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