Chandhiok & Mahajan (C&M) have led on the successful acquisition of a thermal power plant by Sarda Energy & Minerals Limited.
Chandhiok & Mahajan (C&M), led by Pooja Mahajan, Managing Partner and Head of the Restructuring & Insolvency Practice, has advised Sarda Energy & Minerals Limited (Sarda) in the acquisition of SKS Power Generation Chhattisgarh Limited, which operates a 600 MW thermal power plant in Chhattisgarh.
The acquisition was completed as part of the corporate insolvency resolution process under the Insolvency & Bankruptcy Code, 2016, with a deal value exceeding INR 1,900 crores. Sarda’s resolution plan was approved by the Hon’ble National Company Law Tribunal (NCLT) on August 13, 2024.
C&M also successfully represented Sarda in defending against multiple applications and appeals filed by unsuccessful resolution applicants. These applicants had challenged the approval of Sarda’s resolution plan. On October 1, 2024, the National Company Law Appellate Tribunal (NCLAT) upheld the NCLT’s approval and dismissed the objections raised by the challengers.
C&M takes pride in contributing to the successful acquisition of the thermal power plant by Sarda Energy & Minerals Limited.
C&M Team:
- Pooja Mahajan – Managing Partner & Head of Restructuring & Insolvency Practice
- Nishant Sogani – Counsel
- Savar Mahajan – Managing Associate
- Saurabh Bachhawat – Managing Associate
- Shrishti Agnihotri – Associate
- Shreya Mahalwar – Associate
- Priyanka P. – Associate
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