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Lanco lenders hope for some recovery from Anpara Power project

The JSW Group, Adani Group, Srei Infrastructure and the Piramal Group have submitted expressions of interest (EoIs) to take over the 1,200-MW Lanco Anpara project, raising expectations of partial recovery for lenders from the bankrupt Lanco Group that faces liquidation.

Lanco Anpara Power, a coalfired thermal power project in Uttar Pradesh, is a performing asset and classified as standard on the books of banks. However, the bankrupt parent company Lanco Infratech had pledged a majority of the company’s shares with lenders, and those shares have now been invoked.

Lenders expect to recover at least some of their Rs 45,263 crore dues from Lanco through the sale of this operational plant. Consultancy firm Deloitte is the advisor.

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