Adani Power has received a letter of intent (LoI) from the resolution professional on February 24, 2025 for acquisition of Vidarbha Industries Power (VIPL). The Committee of Creditors of VIPL has approved the Resolution Plan submitted by Adani Power.
The implementation of the resolution plan is subject to the terms of the LOI and requisite approvals from the National Company Law Tribunal, Mumbai and / or any other regulatory authority / courts / tribunal (as the case may be) under applicable laws. Vidarbha Industries Power is currently undergoing the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC) 2016.
Adani Power is engaged in the business of generation, accumulation, distribution and supply of power and to generally deal in electricity and to explore, develop, generate, accumulate, supply and distribute or to deal in other forms of energy from any source whatsoever.
