Adani Power Clinches ₹4,000 Cr Deal for VIPL as NCLT Clears Resolution Plan

Adani Power Ltd. has secured National Company Law Tribunal (NCLT) approval to acquire Vidarbha Industries Power Ltd. (VIPL) for ₹40 billion, marking a major step in its thermal power consolidation strategy. The Mumbai bench of the NCLT found the resolution plan “viable and feasible,” with 100% creditor approval, paving the way for Adani to absorb VIPL’s 600 MW thermal power plant in Nagpur.

 

VIPL, formerly a Reliance Power subsidiary, entered insolvency under the IBC in 2024 with admitted liabilities of ₹6,753 crore. Adani’s resolution plan includes a ₹4,000 crore payout to creditors and assumes operational control of the Butibori-based facility, which comprises two 300 MW units.

 

Key Highlights:

This acquisition strengthens Adani Power’s grip on India’s thermal generation landscape while reviving a long-stalled asset.

 

Source: Economic Times – NCLT clears Adani’s VIPL acquisition | ET Now – Deal background | Nagpur Today – Local impact