KSK Mahanadi Power Company through its Resolution Professional’s (RP) counsel informed NCLT, Hyderabad, on Monday, that a change of circumstances warrants a fresh invitation of bids under the corporate insolvency resolution process (CIRP) for KSK Mahanadi Power, which was admitted into insolvency in October 2019.
One of the prospective resolution applicants (PRAs) of KSK Mahanadi, Megha Engineering & Infrastructures Limited had filed a plea before NCLT questioning the intention of RP to invite fresh bids when 12 PRAs have already been shortlisted under the first round of bidding.
The RP argued that since KSK Mahanadi would now be undergoing CIRP as a separate entity, the changed circumstance requires a fresh round of bidding. The RP also …
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