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Vedanta Gets NCLT Approval to Acquire Meenakshi Energy

Vedanta Ltd., an Indian mining, Oil and energy company, has received the approval of National Company Law Tribunal (NCLT) to acquire Meenakshi Energy Ltd. for Rs. 1,440 crore. Earlier, in January 2023, the company’s Board of Directors approved the acquisition of Meenakshi Energy.

Meenakshi Energy had been admitted to proceedings under the Insolvency and Bankruptcy Code (IBC) in 2019. Post-acquisition, Vedanta will operate Meenakshi Energy’s coal-based 1,000 MW power plant.