Managing Partner and Head of Restructuring & Insolvency Practice, assisted by Nishant Sogani, Counsel, Savar Mahajan, Managing Associate, Saurabh Bachhawat, Managing Associate, Shrishti Agnihotri, Associate, Shreya Mahalwar, Associate and Priyanka Pandey, Associate, advised Sarda Energy & Minerals Limited (‘Sarda’) in acquisition of SKS Power Generation Chhattisgarh Limited (having 600 MW thermal power plant in Chhattisgarh) in its corporate insolvency resolution process of under the Insolvency & Bankruptcy Code, 2016 for a deal value of more than INR 1900 crores. The resolution plan submitted by Sarda was approved by the Hon’ble NCLT on 13 August 2024.

C&M also successfully defended Sarda in various applications and appeals which were filed by the unsuccessful resolution applicants before the NCLT and NCLAT respectively, challenging the approval of the resolution plan of Sarda Energy. The NCLAT by its judgement dated 1 October 2024 has upheld the plan approval order of NCLT and dismissed the objections raised by unsuccessful resolution applicants.

C&M is proud to have contributed to the successful acquisition of a thermal power plant by Sarda Energy & Minerals Limited.