SBI chalks out resolution plans for six stressed power assets, says report

The country's largest lender, State Bank of India (SBI), has framed resolution plans for six stressed power assets, reported Business Standard.

But their future is still uncertain as other lenders are yet to come on board even as the Reserve Bank of India’s deadline for beginning insolvency proceedings ends on August 27, the report said, adding that SBI is the largest lender with an exposure of around Rs 70,000 crore.

"Lenders are still hoping that the latest amendment in the Insolvency and Bankruptcy Code (IBC) will come to their rescue," sources told the paper.

The projects for which the bank worked out the resolution plans include 1,370 MW Chhatisgarh power plant of GMR and KSK Mahanadi, the report said, adding that the plants are expected to get new buyers under the scheme of asset management and debt change structure, Samadhan.