JSW Energy rallied 7 percent intraday on October 15, a day after the committee of creditors approved the company's resolution plan for Ind-Barath Utkal.
The company submitted a resolution plan for Ind-Barath Energy (Utkal) Limited under the corporate insolvency resolution process of the Insolvency and Bankruptcy Code.
The plan was approved by the Committee of Creditors on October 14, the company said in its BSE filing.
Ind-Barath owns a 700 MW under-construction thermal power plant in Odisha.
"The closure of the transaction shall be subject to the receipt of necessary regulatory approvals, including from the National Company Law Tribunal," JSW Energy said.
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