GVK Power IRP Seeks Claim Details From Creditors

GVK Power and Infrastructure Ltd.'s interim resolution professional (IRP) is seeking claim details from the bankrupt company's creditors.

The creditors must submit their claims with proof by 29 July, the firm's IRP Satish Kumar Gupta said in a public announcement. The e-mail to be used for correspondence with the IRP is gvkpilcirp@gmail.com, he added.

The company’s corporate insolvency resolution process (CIRP) is likely to be completed by 11 January 2025.

The Hyderabad bench of the National Company Law Tribunal (NCLT) on 12 July admitted GVK Power for insolvency resolution and appointed Gupta as the company’s IRP.

The insolvency petition under Section 7 of the Insolvency Bankruptcy Code was filed by financial creditor ICICI Bank Ltd. against GVK Power, which provided corporate guarantee for the repayment of loan facilities availed by GVK Coal Developers (Singapore) Pte Ltd.

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