NCLT Hyderabad initiates insolvency proceedings against GVK Gautami Power

The Hyderabad bench of National Company Law Tribunal (NCLT) has initiated insolvency proceedings against GVK Gautami Power Ltd, according to a regulatory filing. In the filing, GVK Power & lnfrastructure Ltd (GVKPIL) said GVK Gautami Power Ltd is its step-down subsidiary.

"NCLT, Hyderabad bench, during its hearing on October 20 initiated insolvency proceedings under The lnsolvency and Bankruptcy Code, 2016 filed by the Edelweiss Asset Reconstruction Company (EARC) against GVK Gautami Power Ltd, a step down subsidiary of the company," it said.

Accordingly, NCLT has appointed Anil Kohli as the interim resolution professional.