State-owned hydropower giant NHPC Thursday said it has been declared as the highest bidder by the creditor of debt-ridden Lanco Teesta Hydro Power.
It has also received a letter of intent from the committee of creditors of Lanco Teesta Hydro Power, NHPC said in a regulatory filing.
"...it is to inform that NHPC Ltd has been declared as the successful resolution applicant by the committee of creditors of Lanco Teesta Hydro Power Ltd," said NHPC.
However, it also added that this would be subject to final approval by the National Company Law Tribunal.
Lanco Teesta Hydro Power is a 500-megawatt hydropower project on the Teesta river in Sikkim.
(With inputs from agencies.)