Apart from the stay, the stressed power plants were also given another breather recently, when the high-level empowered committee constituted by the Prime Minister's Office allowed retaining fuel supply agreements (FSAs), Power Purchase Agreements (PPA) and long-term transmission network access rights.

Failing to find resolutions for stressed power sector companies, lenders have decided to refer 11 companies, including Prayagraj Power Generation, GMR Chhattisgarh Energy and Jaiprakash Power Venture, to the National Company Law Tribunal.

Reacting to this crumb of news, BSE Bankex rallied as much as 2.79 per cent to 19107.39 points with ICICI Bank contributing the most (8.18 per cent) to the index.