Diamond Power has completed its exit from the National Company Law Tribunal (NCLT) resolution framework, after fully prepaying the INR 501 crore cash consideration due to its erstwhile lenders, one year ahead of schedule.

Sept 11, 2026

Diamond Power Infrastructure Limited has formally completed its exit from the resolution framework under the Insolvency and Bankruptcy Code (IBC), following the full implementation of its NCLT-approved Resolution Plan. The company has prepaid the entire INR 501 crore cash consideration payable to its erstwhile lenders, originally scheduled to be paid by September 30, 2027.

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The Resolution Plan involved total consideration of INR 2,401 crore, comprising INR 501 crore in cash and INR 1,900 crore in 30-year redeemable bonds. With the plan fully implemented, Diamond Power said it is now eligible to obtain credit ratings, facilitating access to bank financing, debt capital markets and institutional funding.

The company also stated that its entire fixed-asset base, including its Vadodara manufacturing facility, plant and machinery, rod mills and captive power assets, is available as security for working-capital and term financing.

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Diamond Power said its focus will now shift to scaling MV and EHV cable capacity, strengthening backward integration and expanding its customer base as India accelerates investments in power transmission and grid infrastructure.