NCLT Nod to MAHAGENCO-NTPC’s Resolution Plan for Sinnar Thermal Plant
Delhi bench of the National Company Law Tribunal (NCLT) has given its approval to a resolution plan for 1,350 MW Sinnar Thermal Power Plant near Nashik. This plan has been submitted by a consortium of Maharashtra State Power Generation Company Ltd. (MAHAGENCO) and NTPC.
MAHAGENCO-NTPC Consortium Bids Rs. 3,800 Cr. for Sinnar TPP
As per media reports, the MAHAGENCO-NTPC consortium had bid about Rs. 3,800 crore for the Sinnar Thermal Power Plant. Other power sector developers who have bid for the plant include major names such as Adani Power, Jindal Power, and Vedanta.
If MAHAGENCO-NTPC’s plan to acquire the distressed Sinnar TPP is materialised, the consortium will jointly manage the plant and work towards its revival. Sinnar TPP has been lying defunct for the past 15 years.
Why is Sinnar TPP of Importance?
Sinnar TPP is located in the Sinnar industrial region near Nashik. This industrial area has pharmaceutical, textiles, food processing, and chemical plants. The Sinnar Thermal Power Plant is important primarily because of its 1,350 MW (5×270 MW) power generation capacity, which is crucial for meeting Sinnar industrial area’s electricity demand.
Insolvency Process of Sinner Thermal Power
Sinnar TPP was developed by Indiabulls Power and later became a subsidiary of RattanIndia Power. The plant entered the insolvency process primarily due to its inability to service its debts and meet operational payment obligations. The immediate trigger for the Corporate Insolvency Resolution Process was a plea filed by an operational creditor, Shapoorji Pallonji & Co., seeking resolution for significant unpaid dues.
Sinnar Thermal Power Limited entered insolvency on 19th September 2022 following a petition filed by Shapoorji Pallonji & Company Pvt. Ltd. under Section 9 of the Insolvency and Bankruptcy Code (IBC). During the process, six resolution plans were received from various contenders in the power sector. After multiple rounds of negotiations, the plan submitted jointly by MAHAGENCO and NTPC was approved by the Committee of Creditors (CoC) through voting on 13 June 2025.
About Sinner Thermal Power Limited: Sinnar Thermal Power Limited (STPL) is a 1,350 MW coal-based power plant near Nashik, Maharashtra. The plant was developed by RattanIndia Power Ltd., a Joint Venture (JV) between RattanIndia Enterprises Ltd. and RR Infralands Pvt. Ltd.
