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Lanco Infratech (Lagadapati Amarappa Naidu and Company Infratech) was a large Indian conglomerate that became insolvent in 2017. [1] [2] It was involved in construction, power, real estate, and several other segments. One of the first Independent Power Producers (IPP) in India, in 2011 it became the largest private power provider in India.
Sridhar Lagadapati was the co-founder of Lanco Infratech Ltd., along with his brothers Rajagopal Lagadapati and Madhusudhan Lagadapati. Lanco [4] is an integrated infrastructure developer with interests in Power, Infrastructure, Construction and Property Development.
Lagadapati Madhusudhan Rao is an Indian businessman and the Executive Chairman of Lanco Infratech, and the brother of Lagadapati Rajagopal.Forbes listed him as the 29th richest Indian with a net worth of $2.3 billion in 2009, but now he is a bank defaulter [1] According to Forbes magazine, he stands at No. 29 among the richest persons in India. [1]
The Board for Industrial and Financial Reconstruction (BIFR) was a development finance institution under the ownership of Ministry of Finance, Government of India, part of the Department of Financial Services of the Ministry of Finance.
In year 2007 Anpara C was allotted to be constructed in PPP sector domain. The new 2x600MW power plant made under PPP By Lanco Infratech.On 13 November 2019 there was a blast in Anpara D due to accidental leakage of hydrogen gas from the generator of 500 MW unit and made two 500 MW units out of operation.
Lanco Amarkantak Power Plant is a coal based thermal power project located at Pathadi village in Korba district in Indian state of Chhattisgarh. The power plant owned and operated by Lanco Infratech. In 2024, Adani Power acquired Lanco Amarkantak. [1] [2]
Bankruptcy and Insolvency Adjudicator: The Code proposes two separate tribunals to oversee the process of insolvency resolution, for individuals and companies: (i) the National Company Law Tribunal for Companies and Limited Liability Partnership firms; and (ii) the Debt Recovery Tribunal for individuals and partnerships.
It was established on 1 October 2016 and given statutory powers through the Insolvency and Bankruptcy Code, which was passed by Lok Sabha on 5 May 2016. It covers Individuals, Companies , Limited Liability Partnerships and Partnership firms .
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