Hyderabad. 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, 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 debt restructuring in July 2013. In late 2017 the company faced insolvency proceedings, with the National Company Law Tribunal suspending the board. Liquidation In August 2018, Hyderabad bench of National Company Law Tribunal (NCLT) ordered the liquidation of Lanco Infratech. References 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