Dighi Port committee of creditors approves APSEZ’s resolution plan


Dighi Port committee of creditors approves APSEZ’s resolution plan

The committee of creditors (CoC) of Dighi Port on Thursday approved the resolution plan given by Adani Ports and Special Economic Zone (APSEZ), which is giving Rs 650 crore to the financial creditors, a 78% haircut for them. The Maharashtra-based port operator owes Rs 3,074 crore to its financial creditors.

The CoC’s counsel Gourab Banerji told the National Company Law Appellate Tribunal (NCLAT) that the resolution plan was approved by 99.68% of the members. The appellate tribunal’s approval to the resolution plan is expected at the next hearing scheduled for October 17. In February, the Bank of India-led CoC had approved Jawaharlal Nehru Port Trust’s (JNPT) Rs 853-crore bid for the debt-laden company.

NCLT Mumbai had also declared JNPT as the successful resolution applicant in May 2019. But the state-owned company withdrew its offer due to certain modifications suggested by the tribunal. Read More

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