GVK Power's Troubled Past Takes a New Turn: List of Respective Resolution Applicants Revealed

Mumbai, December 23, 2023 - The Indian financial sector experienced another jolt on Thursday as GVK Power and Infrastructure Ltd., one of India's prominent power infrastructure companies, listed its respective resolution applicants under the Corporate Insolvency and Bankruptcy Procedure (CIRP).

Among the key contenders vying for control of the struggling corporation has emerged two leading players - Vedanta Limited. With Jindal Energy's entry to this bidding process, speculations surrounding their financial health have raised questions about the future prospects of GVK Power.

GVK Power, which is currently facing serious liquidity issues and insolvency proceedings, released its list of potential bidders interested in acquiring a stake in the company. Vedanta, JSW Energy, and Jindal Power are among key companies on this shortlist to acquire GVK Power.