Cyril Amarchand Mangaldas has represented the committee of creditors of Vidarbha Industries Power Limited during the corporate insolvency resolution process of the Company.

The committee comprised CFM Asset Reconstruction Private Limited and Pallas Holdings Limited.

The Firm advised and represented the committee during the entire resolution process of the Vidarbha, including reviewing the challenge process document, review of resolution plans received during the CIRP, negotiations with the prospective resolution applicants and implementation of the Resolution Plan.

The transaction team was led by Madhav Kanoria (Partner) and Surbhi Pareek (Partner) with assistance from Associates Parnika Jain and Ayushee Singh. The team also represented the committee in relation to the proceedings before the National Company Law Tribunal.

Srideepa Bhattacharya (Partner) with assistance from Neha Shivhare (Principal Associate) represented CFM Asset Reconstruction Private Limited before Debt Recovery Tribunal.

The CIRP was initiated against Vidarbha Industries Power vide order dated September 30, 2024, passed by the National Company Law Tribunal, Mumbai Bench. After extensive negotiations, the resolution plan submitted by Adani Power Limited was approved by the Committee of Creditors on February 21, 2025, and the Resolution Applicant was issued a letter of intent from the resolution professional on February 24, 2025. Further, the Resolution Plan was approved by the NCLT vide order dated June 18, 2025.

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