(First published in Economic Times: https://economictimes.indiatimes.com/industry/energy/power/bankruptcy-court-okays-sks-power-generations-acquisition-by-sarda-energy-minerals/articleshow/112504058.cms?from=mdr)
Happy to share that I have been appointed as a member of the Monitoring Committee of SKS Power Generation, on behalf of Sarda Energy & Minerals Limited, a listed company with a market cap of close to INR 12,000 Cr. I also serve as an Independent Director and Chair of the Audit Committee of Sarda Energy.
Earlier on 13 August, the NCLT, Mumbai Bench gave a nod to Sarda Energy for acquisition of SKS Power Generation under the IBC process as a successful resolution applicant. SKS owns a 600-MW power plant in Chhattisgarh, which is currently being run by NTPC.
This acquisition was pitted against Torrent Power, NTPC, and Vantage Fund, and even earlier, this asset was sought by Reliance, Adani Power, and the Jindal Group.
As a member of the monitoring committee, we will be overseeing the effective implementation of the resolution plan.