Adani Power Gets Major Relief: NCLAT Upholds ₹4,000 Crore Resolution Plan

• The National Company Law Appellate Tribunal (NCLAT) Delhi has upheld Adani Power Limited's ₹4,000 crore resolution plan for Vidarbha Industries Power Limited (VIPL).
• NCLAT dismissed appeals filed by Western Coalfields Limited and VIPL employees, challenging the National Company Law Tribunal (NCLT) Mumbai Bench's approval.
• The Appellate Tribunal found no merit in the objections and stated that the resolution plan did not violate any provision of the Insolvency and Bankruptcy Code (IBC).
• NCLAT clarified that payments to operational creditors and employees comply with IBC Section 30(2)(b) and that the Committee of Creditors exercised commercial discretion lawfully.
• This decision confirms the resolution of the 600 MW power asset located in Butibori, Nagpur district, Maharashtra.

Why It Matters: NCLAT upheld Adani Power's ₹4,000 crore resolution plan for VIPL, dismissing all objections.