Adani Power … said it has received the Letter of Intent (LoI) to acquire the insolvent Korba West Power Company (KWPCL) after the latter’s Committee of Creditors (CoC) approved Adani’s resolution plan for KWPCL.

— Business Standard

The insolvency was approved on 24 June 2019.

L&L Partners advised the Resolution Professional for Korba West Power Company Limited led by a team of partners Bikash Jhawar and Manmeet Singh, managing associate Avinash Subramanian, senior associate Abhinandan Bannerjee, associates Aivan Raj, Swetha Shankaran.

J Sagar Associates (JSA) advised the Committee of Creditors, led by partner Dina Wadia, partner Anjana Potti, senior associate Abhishek Subbaiah, associate Sindhuja Satti.

Cyril Amarchand Mangaldas advised Adani in the insolvency.

2019-06-24

Deal value: $764m

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