SKS Power Insolvency Resolution
POWER & RENEWABLE ENERGY

SKS Power Insolvency Resolution

In a significant development in the ongoing insolvency resolution process of SKS Power, the Committee of Creditors (CoC) has received a ?1,950 crore bid from Sarda Energy and Mining. This bid represents a crucial step towards resolving the financial distress of SKS Power, a company that has been struggling with mounting debts and operational challenges in the power sector.

Sarda Energy's offer includes a combination of upfront cash payments and the assumption of SKS Power's existing liabilities. This bid is expected to provide much-needed relief to the creditors, who have been working to recover their dues through the insolvency proceedings. The CoC, which comprises representatives from various financial institutions and creditors, has been instrumental in evaluating and negotiating the terms of the resolution plan.

The acceptance of Sarda Energy's bid marks a pivotal moment in the insolvency process, as it not only paves the way for the restructuring of SKS Power's debt but also signals a potential revival of the company's operations. The infusion of funds will enable SKS Power to address its financial obligations and possibly resume its power generation activities, which have been severely impacted by its financial difficulties.

The successful resolution of SKS Power's insolvency case also reflects the increasing role of strategic asset acquisitions in the power sector, where financially stronger entities are stepping in to acquire distressed assets. Sarda Energy's involvement is expected to bring in the necessary financial stability and operational expertise to turn around the fortunes of SKS Power.

This development is part of a broader trend in the Indian power sector, where several companies are undergoing insolvency resolutions due to the sector's high levels of debt and operational inefficiencies. The resolution of SKS Power's insolvency case is likely to have positive implications for the company's stakeholders, including its employees, creditors, and customers, as well as for the overall power industry in India.

As the process moves forward, attention will be focused on how Sarda Energy and Mining will manage and integrate SKS Power's assets into its portfolio and how effectively the resolution plan will be implemented to ensure the long-term viability of the company.

In a significant development in the ongoing insolvency resolution process of SKS Power, the Committee of Creditors (CoC) has received a ?1,950 crore bid from Sarda Energy and Mining. This bid represents a crucial step towards resolving the financial distress of SKS Power, a company that has been struggling with mounting debts and operational challenges in the power sector. Sarda Energy's offer includes a combination of upfront cash payments and the assumption of SKS Power's existing liabilities. This bid is expected to provide much-needed relief to the creditors, who have been working to recover their dues through the insolvency proceedings. The CoC, which comprises representatives from various financial institutions and creditors, has been instrumental in evaluating and negotiating the terms of the resolution plan. The acceptance of Sarda Energy's bid marks a pivotal moment in the insolvency process, as it not only paves the way for the restructuring of SKS Power's debt but also signals a potential revival of the company's operations. The infusion of funds will enable SKS Power to address its financial obligations and possibly resume its power generation activities, which have been severely impacted by its financial difficulties. The successful resolution of SKS Power's insolvency case also reflects the increasing role of strategic asset acquisitions in the power sector, where financially stronger entities are stepping in to acquire distressed assets. Sarda Energy's involvement is expected to bring in the necessary financial stability and operational expertise to turn around the fortunes of SKS Power. This development is part of a broader trend in the Indian power sector, where several companies are undergoing insolvency resolutions due to the sector's high levels of debt and operational inefficiencies. The resolution of SKS Power's insolvency case is likely to have positive implications for the company's stakeholders, including its employees, creditors, and customers, as well as for the overall power industry in India. As the process moves forward, attention will be focused on how Sarda Energy and Mining will manage and integrate SKS Power's assets into its portfolio and how effectively the resolution plan will be implemented to ensure the long-term viability of the company.

Next Story
Real Estate

Dharavi Rising

Dharavi, Asia’s largest informal settlement, stands on the cusp of a historic transformation. With an ambitious urban renewal project finally taking shape, millions of residents are looking ahead with hope. But delivering a project of this scale brings immense challenges – from land acquisition to rehabilitate ineligible residents outside Dharavi and rehabilitation to infrastructure development. It also requires balancing commercial goals with deep-rooted social impact. At the helm is SVR Srinivas, IAS, CEO & Officer on Special Duty, Dharavi Redevelopment Project (DRP), Government..

Next Story
Real Estate

MLDL Records 20.4% Growth in Pre-Sales

Mahindra Lifespace Developers Limited (MLDL), the real estate and infrastructure development arm of the Mahindra Group, announced its financial results for the quarter ended March 31, 2025. In line with INDAS 115, the company recognises revenues using the completion of contract method. Key highlights FY25: Consolidated sales (Residential and IC&IC) of Rs 32.99 billion. Gross development value (GDV) additions in FY25 were Rs 1.81 trillion compared to Rs 440 billion in FY24 (~4x growth). Residential pre-sales of Rs 28.04 billion in FY25, reflecting 20.4% growth o..

Next Story
Infrastructure Transport

UCSL Delivers India's First Green Cargo Vessel to Norway

In a landmark achievement for Indian shipbuilding and the Atma Nirbhar Bharat initiative, Udupi Cochin Shipyard Limited (UCSL), a subsidiary of Cochin Shipyard Limited (CSL), has delivered the first of six next-generation green cargo vessels to Norway-based Wilson Ship Management AS, Europe’s largest short-sea shipping operator. The 3,800 DWT vessel, named Wilson Eco 1, was handed over during a ceremony at New Mangalore Port. The delivery is part of a Rs 5.06 billion project supported by Norway’s green maritime funding programme, marking India's entry into the European eco-friendly ca..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?