Banks are making a second attempt to sell Corporate Power Limited (CPL), an Abhijeet Group company, to recover their dues. Adani Group, India Power Corporation and JSW Power have evinced initial interest in the deal. The companies have purchased bid documents, which makes lenders hopeful that they may be taking part in the auction eventually.
Tag: Abhijeet Group
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Coal ministry imposes fine on Abhijeet Group
Abhijeet Group has been penalised by the Ministry of Coal for delay in coal production. The fine imposed is not much and it hurts the company's prestige more than the finances.
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Domino effects of stuck cash
NPAs are at best symptomatic of a deeper problem among infrastructure projects in particular, among those on public-private partnership (PPP).