Bajaj Hindusthan drops plan to sell power business

Debt-ridden Bajaj Hindusthan Sugar has shelved the plan to sell power business to group firm Lalitpur Power Generation Company for about ~1,200 crore, even as its lenders have initiated resolution process to restructure loans. The firm had announced plans in December to sell its co-generation power business, having 449-Mw capacity at 14 locations in Uttar Pradesh, for ~1,800 crore.