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MUMBAI: At least a dozen power projects including KSK Mahanadi, Prayagraj Power and Jhabua Power which were hopeful of escaping the bankruptcy process, are headed to insolvency courts. The insolvency process would be triggered on Monday after all lenders were unable to reach a consensus, said two people familiar with the matter.With this almost all the 34 identified power projects with Rs 1.8 lakh crore of loans would head to the National Company Law Tribunal in what appears to be a victory for the Reserve Bank of India which stuck to its ground on not permitting any resolution that would have meant kicking the can down the road.“Lenders were looking at either a one-time settlement of loan or replacing the promoter to revive the company,’’ said one of the persons cited above who did not want to be identified. “However, since all lenders were not on board, lead bank does not have any choice but to take them to bankruptcy court.’The drama over the fate of stressed power companies has come to a close after witnessing a legal battle and the promoter lobby trying to rope in the government to favour them despite default. But the government washed its hands off and let the bankruptcy process kick in as advised by the RBI.Lenders were very close to signing a deal for KSK Mahanadi with Adani Power , Coastal Energen with Edelweiss ARC and Agri Trade resources for SKS Power. In cases of Prayagraj Power, lenders witnessed a bitter tussle between Resurgent Power which is backed by the Tatas, and JSW Energy . In many cases consent was received only from 40% to 60% of borrowers by value, said people quoted above.Government-owned NTPC, the largest power producer, did not bid for a single project despite assurances from State Bank of India that a transparent bidding process is being followed. NTPC made it clear that it would bid only under the NCLT route which may be a reason that SBI decided to pull the trigger.The Reserve Bank of India had asked banks to restructure loans of companies in distress before the end of August, failing which they were mandated to refer them to the bankruptcy court. The banking regulator had also said that that all lenders should not just agree to the debt restructuring plan but also execute it within 180 days. Even if one lender disagreed, the company had to be referred to bankruptcy court. The 180-day deadline to restructure the loans with the grace period to file the cases ends Monday. As many as 18 cases are already referred to bankruptcy court, although all of them are not yet admitted.