New Delhi: NTPC Limited has announced that the National Company Law Tribunal (NCLT), Delhi Bench, has approved the Resolution Plan jointly submitted by NTPC and Maharashtra State Power Generation Company Limited (MAHAGENCO) for the revival of Sinnar Thermal Power Limited (STPL). The approval marks a significant step forward in the Corporate Insolvency Resolution Process (CIRP) initiated under the Insolvency and Bankruptcy Code (IBC), 2016.
Approval Secures Future of Key Maharashtra Power Asset
Sinnar Thermal Power Limited, located in Sinnar, Nashik, operates a substantial coal-based generation facility with a capacity of 5×270 MW (1350 MW). The plant is considered a strategically important asset for Maharashtra’s power infrastructure, given its scale and regional significance.
With the NCLT’s approval, the plant’s resolution now moves into the implementation phase. The Official Resolution Plan—covering financial restructuring, operational revival, and compliance obligations—will be executed in accordance with the NCLT order and all applicable regulations.
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A Major Step in the Insolvency Resolution of STPL
STPL has been undergoing the CIRP due to financial distress, with NCLT overseeing the process to ensure transparency and creditor protection. The joint proposal by NTPC and MAHAGENCO had emerged as the preferred plan after evaluation by creditors, highlighting the strategic collaboration between central and state public-sector power entities to preserve generation assets and safeguard electricity supply.
Industry analysts view the approval as a positive development for the power sector, potentially enabling increased generation stability in Maharashtra and boosting investor confidence in large-scale asset resolutions under the IBC framework.
Next Steps: Implementation of the Resolution Plan
Following the NCLT’s decision, NTPC and MAHAGENCO will begin executing the approved plan. This includes operational revival measures, financial settlement mechanisms, and compliance activities mandated by regulatory authorities. The implementation process is expected to be closely monitored to ensure adherence to timelines and restructuring commitments.
About the National Company Law Tribunal (NCLT)
The NCLT is a quasi-judicial authority in India responsible for corporate legal matters, including insolvency resolution under the Insolvency and Bankruptcy Code. It adjudicates cases relating to company law, mergers, demergers, and bankruptcy processes.
About NTPC Limited
NTPC is India’s largest power generation company, engaged in producing and supplying electricity to the nation. With a diversified energy portfolio across thermal, hydro, solar, and other renewable sources, it plays a central role in India’s energy security and infrastructure development.
About MAHAGENCO
Maharashtra State Power Generation Company Limited (MAHAGENCO) is the state-owned power generation utility of Maharashtra and one of India’s largest electricity producers. It operates a diverse portfolio of thermal, hydro, and solar power plants across the state. MAHAGENCO plays a key role in meeting Maharashtra’s power demand and supporting grid stability through large-scale generation capacity.
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