Media & Events
Shardul Amarchand Mangaldas advises Pankaj Dhanuka, Resolution professional and subsequently the liquidator of Maadurga Thermal Power Company in relation to the corporate insolvency resolution process and the liquidation process of the company
December 5, 2022
Shardul Amarchand Mangaldas advised Mr. Pankaj Dhanuka, Resolution professional and subsequently the liquidator of Maadurga Thermal Power Company Limited in relation to the corporate insolvency resolution process and the liquidation process of the company, including in advising on the sale of the company as going concern in liquidation. The aggregate debt amount was approximately INR 805.45 crores and resolution amount was approximately INR 59.12 Crores. The liquidation process closed on 07 November,2022.
Shardul S. Shroff, Executive Chairman is the National Practice Head of the Insolvency and Bankruptcy Practice of the Firm.
The Transaction team including all advisory during the corporate insolvency resolution process and liquidation was led by Anoop Rawat, Equity Partner with Saurav Panda, Partner; Shreyas Gupta, Principal Associate and Maanvi Jain, Associate.
The NCLT litigation support was given by Suhani Dwivedi, Partner; and Deepanjan Dutta Roy, Senior Associate.
The Corporate Compliance support was given by Rohan Jain, Partner and Kshitij Arora, Senior Associate.
Radhe Ram Shaw and Virajaa Steel & Power Pvt. Ltd. were the Successful Bidders and United Ferrocast Pvt. Ltd. was the nominee of the Successful Bidders.
