Adani Power’s ₹4,000 Crore resolution plan upheld by NCLAT

20 Jan 2026 , 12:22 PM

Adani Power Limited announced that the National Company Law Appellate Tribunal (NCLAT), Delhi has upheld Adani Power Limited’s resolution plan for Vidarbha Industries Limited worth ₹4,000 Crore. Hence, dismissed appeals filed by Western Coalfields Limited and employees of VIPL.

At around 11.57 AM, Adani Power was trading 0.36% higher at ₹141.07, against the previous close of ₹140.56 on NSE. The counter touched an intraday high and low of ₹142.40, and ₹140.05, respectively.

The appeals challenged the previous order of the National Company Law Tribunal (NCLT), Mumbai bench. It had approved the resolution plan submitted by Adani Power. After listening to the matter, the NCLAT rejected the objections put in front by the appellants and upheld the approval of the resolution plan in full.

In its order, the appellate tribunal stated that the objections were not on merit and did not disclose any violation of the Insolvency and Bankruptcy Code (IBC).

The ruling highlighted that, “In view of the ongoing discussions, the pay outs to the operational creditors (including employees) cannot be said to be violating the provisions of Section 30(2)(b).

The verdict establishes the resolution of the 600 MW power asset located at Butibori in Nagpur district of Maharashtra.

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