NCLT approves Adani Power to acquire Lanco Power for Rs 41.01 billion

23 Aug 2024 CW Team

Adani Power announced that the National Company Law Tribunal (NCLT) Hyderabad bench has approved its plan to acquire Lanco Amarkantak Power Ltd (LAPL) for an upfront payment of Rs 41.01 billion. LAPL, currently undergoing the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, will be fully acquired by Adani Power, which will take 100% ownership for a cash consideration.

LAPL operates a 600 MW thermal power plant (2x300 MW) in Pathadi Village, Korba District, Chhattisgarh. The majority of the electricity produced from this plant is supplied to Haryana and Madhya Pradesh distribution companies under long-term power purchase agreements facilitated by Power Trading Corporation Ltd. LAPL also has a long-term fuel supply agreement with South Eastern Coalfields Ltd, a subsidiary of Coal India Limited, for 2.784 MMT of coal.

In addition to its current operations, LAPL is in the process of expanding its capacity with a 1,320 MW (2x660 MW) plant under Phase II. The acquisition by Adani Power is expected to be completed within 60 days from the NCLT's approval, by October 20, 2024.

The acquisition aligns with Adani Power's core business of power generation and will strengthen its position as India's leading private sector power producer, bringing its total operational generation capacity to 15,850 MW. (ET)

Real Estate

04 Sep 2025

Mumbai Records 11,230 Property Deals in August 2025

Mumbai’s property market remained resilient in August 2025, with 11,230 property registrations recorded under the Brihanmumbai Municipal Corporation (BMC) jurisdiction, according to data released by Knight Frank India. While this marks a 3 per cent year-on-year (YoY) decline compared to 11,631 registrations in August 2024, activity stayed robust despite the marginal dip.On a month-on-month (MoM) basis, registrations fell 11 per cent from 12,579 deals in July 2025, indicating seasonal moderation. However, the city’s stamp duty collections still reached Rs 10 billion, reflecting a 6 per cent..

68 Jammu-Katra Trains Cancelled Amid Rain Damage

Jammu and Katra railway services remain severely affected as Northern Railway announced the cancellation of 68 trains—both incoming and outgoing—until 30 September, due to extensive track damage caused by heavy rains and flash floods. Meanwhile, 24 trains are scheduled to resume operations gradually.The Jammu railway division has experienced a complete halt in services for the past eight days, following track misalignment and breaches at several points along the Pathankot–Jammu section. Torrential rainfall since 26 August led to widespread flooding and damage, stranding hundreds of passe..

Bangalore Metro MD Reviews Reach 6 and Phase 2A Progress

Bangalore Metro Rail Corporation Limited (BMRCL) Managing Director, Dr J Ravishankar, IAS, conducted inspections of key metro corridors on 29 and 30 August, reviewing the progress of Reach 6 (Pink Line) and Phase 2A (Blue Line).On 30 August, the inspection covered Reach 6, a 21.39-km corridor stretching from Kalena Agrahara to Nagawara, with 18 stations. This stretch is part of Phase 2 of the Bangalore Metro project. Dr Ravishankar assessed the status of civil works, finishing, track laying, and system integration between Kalena Agrahara and MG Road.Earlier, on 29 August, the MD inspected Phas..