Sarda Energy & Minerals Ltd. announced on February 27, 2026, that the Hon’ble Supreme Court has rejected all appeals against the approval of the Company’s Resolution Plan for SKS Power Generation (Chhattisgarh) Ltd. The original approval was granted by the Hon’ble NCLT on August 13, 2024, under the CIRP process. The final detailed order from the Supreme Court is currently awaited by the company.
Major Legal Victory in SKS Acquisition
Sarda Energy & Minerals Ltd. has received a significant favorable outcome concerning its proposed acquisition of SKS Power Generation (Chhattisgarh) Ltd. through the Corporate Insolvency Resolution Process (CIRP).
On February 27, 2026, the Hon’ble Supreme Court delivered an order rejecting all appeals filed by unsuccessful Resolution Applicants. These appeals had challenged the approval of Sarda Energy’s Resolution Plan, which was originally sanctioned by the Hon’ble NCLT via its order dated August 13, 2024.
Next Steps Awaited
This ruling effectively clears the final major legal hurdle for Sarda Energy & Minerals Ltd. to proceed with the acquisition of SKS Power Generation (Chhattisgarh) Ltd. The company further notified the stock exchanges that the detailed written order from the Hon’ble Supreme Court is currently being awaited.
The company requested that this material update be taken on record by the regulatory authorities.
Source: BSE
