GVK Power & Infrastructure Limited has informed the Exchange about Corporate Insolvency Resolution Process
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Awaiting price reaction for this filing.
GVK Power & Infrastructure Limited has informed the stock exchanges that it has entered the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC). This process is typically triggered after the National Company Law Tribunal (NCLT) admits an insolvency petition, usually from financial creditors. During CIRP, the company's management is suspended and an Interim Resolution Professional (IRP) takes charge of operations. The company will work on a resolution plan to revive the business or facilitate liquidation to recover dues for creditors.
This is a highly negative development for equity shareholders, who stand last in the priority list for recovery and are likely to face significant erosion of value or potential wipeout. The stock is likely to remain volatile and under selling pressure; lenders and creditors will take precedence over shareholders in any resolution.