Banks likely to change management in seven power plants
(WorldNews Business)

Fourteen power plants with a total debt of close to Rs 60,000 crore could head to National Company Law Tribunal (NCLT), while at least in seven power plants with a debt of over Rs 40,000 crore change of management is planned, with RBI unlikely to extend the deadline to resolve high value non-performing assets. Change in management is taking place after a one-time settlement in power companies such as Ratan India, Prayagraj Power Generation Company, Coastal Energen, SKS Power. Asset reconstruction companies, existing power companies and private equity players are buying into these power companies. In some cases, restructuring is planned for companies like GMR Rajamundhry and Jhabhua...