Vantage Point is the highest bidder for SKS Power's bankruptcy

05 May 2023 CW Team

Vantage Point Asset Management of Singapore has made the highest offer of Rs 18 billion for the insolvent SKS Power Generation (Chhattisgarh). Ahmedabad-based Torrent emerged in second place, outbidding Vantage's offer by only Rs 70 million.

Jindal Power, which is controlled by Naveen Jindal and is based in Nagpur, and Sarda Energy also made competitive offers.

The committee of creditors (CoC) for SKS Power is reviewing the proposals and will vote on them soon. SKS has a 600 MW power plant in Chhattisgarh, which is currently operated by the state-owned NTPC, which made no strong acquisition bids for the business.

The two biggest corporations in India, Reliance Industries and the Adani Group, did not make any aggressive offers. Adani and Reliance fought for the Chhattisgarh Lanco Amarkantak power plant, but government-owned REC ultimately prevailed.

Also read:
Jaiprakash Associates defaults on million loan repayment
Bridgepointe Technologies and Bharti Airtel forms strategic alliance

Infrastructure Urban

14 Jan 2026

PM Modi Engages Youth at Viksit Bharat Young Leaders Dialogue 2026

Prime Minister Narendra Modi addressed the concluding session of the second edition of the Viksit Bharat Young Leaders Dialogue (VBYLD) 2026 at Bharat Mandapam, New Delhi, marking the culmination of the four-day event on National Youth Day. The programme coincided with the birth anniversary of Swami Vivekananda and witnessed enthusiastic participation from young leaders across the country.Interacting with the youth, the Prime Minister said that many participants were not yet born when he first took oath as Chief Minister, and were still children when he assumed office as Prime Minister in 2014..

India’s Skilling System Shifts to Unified, Outcome-Led Framework

Union Minister of State (Independent Charge) for Skill Development and Entrepreneurship and Minister of State for Education Jayant Chaudhary chaired the first General Body Meeting of the National Council for Vocational Education and Training (NCVET) at Kaushal Bhawan, New Delhi. Addressing the meeting, the Minister said that India’s skilling ecosystem is undergoing a paradigm shift from fragmented systems to a unified, outcome-oriented framework aligned with education, industry and future technologies, with NCVET playing a central role in making the transition credible, transparent and learn..

25th All India Major Port Cultural Meet Concludes at Paradip

The 25th All India Major Port Cultural Meet 2025–26 concluded on a grand note on January 11 at Jayadev Sadan, Paradip Port, after four days of vibrant cultural performances and artistic celebrations. The event was organised by the Paradip Port Authority (PPA) in association with the Major Ports Sports Control Board and brought together cultural talent from major ports across the country.The valedictory ceremony was graced by P L Haranadh, Chairman, Paradip Port Authority, as the Chief Guest. Addressing the gathering, Shri Haranadh congratulated all participating artistes for their captivatin..