30 stressed power accounts set to go to NCLT as RBI's NPA deadline ends

Allahabad HC on Monday had denied relief to power sector

Lenders to about 30 stressed power assets will refer them to bankruptcy courts, after the Allahabad High Court denied any relief to the sector from the Reserve Bank of India’s February 12 circular setting a 180-day deadline for resolution, which ended on Monday. These comprise 18 coal-run and a dozen gas-based and hydropower projects. Some petitions were in the process of being filed on Tuesday. 

Barring five projects, whose resolution has been worked out outside the Insolvency and Bankruptcy Code (IBC), all the other stressed power plants are expected to face insolvency proceedings. According to power ministry officials, the number of