Lanco Group's Amarkantak Thermal Power Station in Korba, Chhattisgarh. Phase I - 2x300 MW, Phase II - 2x660 MW. Phase I commissioned, Phase II under construction.
PPA that the project has been able to obtain.
fuel linkage with Coal India.
Rs 9,853 crore
total debt payable to a group of lenders led by Axis Bank as of Mar 2017. The other lenders to the company are PFC, REC and IOB.
Rs 974 crore
Debt payable to Axis Bank alone. The bank granted the company a term loan facility worth Rs 500 crore in March 2011 followed by additional debt and bank guarantees in May 2013, March 2015 and February 2017 to the tune of Rs 361 crore.
The company was referred to the insolvency court under Section 7 of the Insolvency and Bankruptcy Code (IBC). Attempts to resolve the default under previous schemes such as corporate debt restructuring have failed.
14 Sep 2019
The Hyderabad bench of the National Company Law Tribunal (NCLT) admits Lanco Amarkantak Power (LAPL) for the process of insolvency resolution over claim of Rs 974 crore made by Axis Bank. The tribunal had ordered liquidation of Lanco group parent, Lanco Infratech, last year after banks failed to agree on a resolution plan for the company during its insolvency proceedings.
Rs. 45,000 crore
Amount owed by the parent company to banks. Other Lanco companies undergoing insolvency include Lanco Kondapalli Power and Lanco Solar.