Banking

Long delays in power resolution tests bankers’ patience

Read more at m.economictimes.com

KSK Mahanadi is a 3,600-megawatt coal-based power project and 1,200 MW of that has already been commissioned.

Synopsis

Central Bank of India last week followed Indian Overseas Bank to sell its loans to Chhattisgarh-based KSK Mahanadi Power Co, as the project has failed to find a buyer more than 15 months after it was admitted for bankruptcy proceedings.

Mumbai: Lenders to India’s defunct power plants are slowly losing patience and seeking to exit their loans, as delays in finding buyers to these projects due to various issues they face impede any recovery prospects.Central Bank of India last week followed Indian Overseas Bank to sell its loans to Chhattisgarh-based KSK Mahanadi Power Co, as the project has failed to find a buyer more than 15 months after it was admitted for bankruptcy

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Read more at m.economictimes.com

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