GVK Power & Infrastructure Limited has informed the Exchange about General Updates
GVKPIL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
The Hon'ble NCLT Hyderabad Bench has admitted an application for Corporate Insolvency Resolution Process (CIRP) against GVK Coal (Tokisud) Company Private Limited, a subsidiary of GVK Power & Infrastructure Limited. The petition was filed by IDBI Bank Limited, the financial creditor, for default in repayment of debt. The total amount in default stands at Rs 39,66,95,710.46 (approximately Rs 39.67 crore) as on November 1, 2025. The debt has been acknowledged by the subsidiary in its financial statements from FY 2018-2019 to 2022-2023 and through One-Time Settlement proposals submitted in 2021 and 2023. Mr. Dhaval Jitendrakumar Mistry has been appointed as the Interim Resolution Professional. Moratorium has been declared, prohibiting legal proceedings and recovery actions against the subsidiary's assets.
This is negative for GVK Power & Infrastructure as the insolvency admission of its subsidiary adds to the company's existing financial distress. The company is already under CIRP itself, and this development signals continued stress in its group entities, potentially impacting shareholder value and future resolution prospects.