Abhishek Pandey Featured in DNA India on the Allahabad High Court Ruling on Power Companies

Abhishek Pandey, Managing Director at Duff & Phelps, was featured in DNA India, discussing the recent Allahabad High Court ruling on stressed assets of power companies. In a blow for power companies, the Allahabad High Court refused to give any interim relief to firms on the Reserve Bank of India’s (RBI) resolution of big-ticket non-performing assets (NPA), and power firms will now face the bankruptcy tribunal. The high court mandated initiating of insolvency proceedings by lenders against defaulting projects of companies. Abhishek Pandey commented, “Most bankers were hoping to get a deferment as they are not sure about investors being able to come up with a credible resolution plans for a sector facing significant structural issues (fuel availability and linkage, pricing reforms, financial well-being of power purchasers, etc.) Having said that, Allahabad High Court's judgment is noteworthy and establishes that the government and the court are looking at IBC as the only credible solution."

Read the full article here - Allahabad High Court tosses power sector bad loans to Centre, RBI.

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