Resurgent Power

Resurgent Power Ventures Pte Ltd Gets UP Power firm through IBC process

Tata Power backed Resurgent Power Ventures has been selected for takeover of the South East UP Power Transmission Company Limited (SEUPTCL) by the resolution professional handling the case of the bankrupt transmission firm.  A Letter of Intent (LOI) selecting Resurgent Power Ventures Pte Ltd (Resurgent) has been issued under the  Insolvency and Banking Code (IBC)proceedings, […]

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Renascent Power to Buy 75% PPGCL under Stressed Asset Resoln Process

Further, this transaction is the result of stressed asset resolution process initiated by the lenders through a competitive bidding process. Renascent Power Ventures, arm of Resurgent Power, signed a Share Purchase Agreement (SPA) with a consortium of lenders led by State Bank of India (SBI) to acquire 75.01 percent stake in Prayagraj Power Generation Company […]

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