Lanco Infratech (Lagadapati Amarappa Naidu and Company Infratech) was a large

India India, officially the Republic of India, is a country in South Asia. It is the List of countries and dependencies by area, seventh-largest country by area; the List of countries by population (United Nations), most populous country since ...

n conglomerate that became insolvent in 2017. It was involved in construction, power, real estate, and several other segments. One of the first

Independent Power Producer An independent power producer (IPP) or non-utility generator (NUG) is an entity that is not a public utility but owns facilities to generate electric power for sale to utilities and end users. NUGs may be privately held facilities, corporations ...

s (IPP) in India, in 2011 it became the largest private power provider in India.

History

Lanco was founded by Lagadapati Amarappa Naidu and his nephew Lagadapati Rajagopal, who was a member of 15th Lok Sabha representing

Vijayawada Vijayawada ( ), formerly known by its colonial name Bezawada, is the second largest city and a major commercial hub in the Andhra Pradesh state of India. The city forms an integral part of the Andhra Pradesh Capital Region and is situated on th ...

from Indian National Congress. Lanco Infratech was created in 2006 to consolidate the 1960-founded Lanco Group's diverse operations under one brand. Initial growth was driven by large contracts primarily in construction. Later, other infrastructure areas such as power generation, transportation were also added. In 2017 the company became insolvent.

Former major operational power plants

* 2 × 300 MW Lanco Amarkantak Power Limited – Two units of 300 MW commissioned. In Korba District, Bilaspur Division,

Chhattisgarh Chhattisgarh (; ) is a landlocked States and union territories of India, state in Central India. It is the List of states and union territories of India by area, ninth largest state by area, and with a population of roughly 30 million, the List ...

South Asia South Asia is the southern Subregion#Asia, subregion of Asia that is defined in both geographical and Ethnicity, ethnic-Culture, cultural terms. South Asia, with a population of 2.04 billion, contains a quarter (25%) of the world's populatio ...

Asia Asia ( , ) is the largest continent in the world by both land area and population. It covers an area of more than 44 million square kilometres, about 30% of Earth's total land area and 8% of Earth's total surface area. The continent, which ...

Earth Earth is the third planet from the Sun and the only astronomical object known to Planetary habitability, harbor life. This is enabled by Earth being an ocean world, the only one in the Solar System sustaining liquid surface water. Almost all ...

* 2 × 600 MW Lanco Anpara Power Limited – One unit of 600 MW commissioned in December 2011 and second unit of 600 MW was commissioned in January 2012. The power plant is located in Sonebhadra district of

Uttar Pradesh Uttar Pradesh ( ; UP) is a States and union territories of India, state in North India, northern India. With over 241 million inhabitants, it is the List of states and union territories of India by population, most populated state in In ...

. * 2 × 600 MW Udupi Power Corp. Limited – Commissioned in 2012, the power plant is located in

Udupi district Udupi district (also Udipi () in Kannada or Odipu () in Tulu language) is an administrative subdivision in the Karnataka state of India, with the district headquarters in the city of Udupi. It is situated in the Canara old north Malabar c ...

Karnataka Karnataka ( ) is a States and union territories of India, state in the southwestern region of India. It was Unification of Karnataka, formed as Mysore State on 1 November 1956, with the passage of the States Reorganisation Act, 1956, States Re ...

. On 14 August 2014,

Adani Power Adani Power Limited is an Indian multinational power and energy company, subsidiary of Adani Group and based in Khodiyar in Ahmedabad, India. It is a private thermal power producer, with a capacity of 15,250 MW and operates a mega solar plan ...

acquired the plant. * 1466 MW Lanco Kondapalli Power Limited – Gas based Combined Cycle Power Plant located at Kondapalli Industrial Development Area near

Andhra Pradesh Andhra Pradesh (ISO 15919, ISO: , , AP) is a States and union territories of India, state on the East Coast of India, east coast of southern India. It is the List of states and union territories of India by area, seventh-largest state and th ...

. * 120 MW Lanco Tanjore Power Company Ltd – Gas based Combined Cycle Power Plant located at Karuppur village of Tanjore district, situated around from

Chennai Chennai, also known as Madras (List of renamed places in India#Tamil Nadu, its official name until 1996), is the capital city, capital and List of cities in Tamil Nadu by population, largest city of Tamil Nadu, the southernmost states and ...

, Tamil Nadu. * 20 MW Hydro Power Plants Major Power Projects under construction were: * 2 × 660 MW extension of Lanco Amarkantak Power Limited * 2 × 660 MW Lanco Vidarbha Thermal Power Limited * 2 × 660 MW Lanco Babandh Power Limited * 4 × 125 MW Lanco Teesta Hydro Power Pvt Ltd * 2 × 76 MW Lanco Mandakini Hydro Energy Pvt Ltd * Turnkey EPC for 100MW solar thermal project for KVK Energy in Rajasthan. * Complete EPC for a 75 MW crystalline technology-based PhotoVoltaic solar power project in Dhule, Maharashtra, for Maharashtra State Power Generation Co Ltd Mahagenco.

Real estate

In 2012, Lanco Infratech obtained around of land through bidding by the Andhra Pradesh government at 4.27 crore per acre for its 5,500 crore township project in Manikonda in Western Hyderabad. File:Basements of LANCO Hills High-rise complex.jpg, LANCO Hills High-rise complex File:LANCO Hills from Chitrapuri colony road (1).jpg, LANCO Hills captured from Chitrapuri colony road

Debt restructuring

In December 2006, the company won a large contract citing collaboration with Singapore firm Globeleq. In 2007, after winning the bid for the 1000 MW Anpara-C power plant, Lanco requested that the power output be re-negotiated. Some competing firms protested since the re-negotiation made the initial bidding meaningless. However, Lanco managed to retain the Anpara project. In June 2013, Lanco had won a contract for setting up two 300 MW power plants in Gujarat. However, the contract was cancelled in October 2013, when the company failed to put up the 10% guarantee required in the contract. By July 2013, the company had filed for

debt restructuring Debt restructuring is a process that allows a private or public company or a sovereign entity facing cash flow problems and financial distress to reduce and renegotiate its delinquent debts to improve or restore liquidity so that it can continu ...

, citing a business slowdown. In September, it was revealed that the company had reduced its workforce by nearly half. Repeatedly tarnished by charges of corrupt practices the company ran into financial trouble and filed for corporate

in July 2013. In late 2017 the company faced insolvency proceedings, with the

National Company Law Tribunal The National Company Law Tribunal (NCLT) is a quasi-judicial body in India that adjudicates issues relating to Indian companies. The tribunal, established under the Companies Act 2013, was constituted on 1 June 2016 by the government of India a ...

suspending the board.

Liquidation

In August 2018, Hyderabad bench of

(NCLT) ordered the liquidation of Lanco Infratech.

References

{{Reflist Defunct electric power companies of India Conglomerate companies established in 1986 1986 establishments in Delhi Indian companies established in 1986 Indian companies disestablished in 2017