NCLT approves Sarda Energy’s Rs 22 billion acquisition of SKS Power 

The National Company Law Tribunal (NCLT) has approved the acquisition of bankrupt SKS Power Generation by Sarda Energy & Minerals for Rs 22 billion. This acquisition allows Indian banks, which have an exposure of Rs 18.9 billion, to recover their entire amount from the electricity generation firm. SKS Power Generation owns a 600-MW power plant in Chhattisgarh, currently operated by NTPC. The committee of creditors, led by State Bank of India (SBI) and Bank of…