Lenders knock at NCLT door against GVK Power
The group of lenders led by IDBI Bank has moved NCLT Hyderabad seeking insolvency proceedings against the GVK Power and Infra arm.
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By Ashwin Mohan
GVK Power and Infrastructure is facing lenders' heat. A consortium of creditors has taken the infrastructure company to the bankruptcy court for debt resolution involving its Goindwal Sahib asset, say sources.
The group of lenders led by IDBI Bank has moved NCLT Hyderabad seeking insolvency proceedings against the GVK Power and Infra arm, ETNow reported.
The insolvency plea, which flowed from RBI's February 12 circular, was filed before the Supreme Court gave its verdict on NPAs on all such assets.
GVK Power Goindwal Sahib is a 540-MW thermal power project.
The total debt load of the company stood at Rs 12,885 crore in 2017-18.
Stock of GVK Power and Infrastructure closed 5 per cent down on the BSE today.
GVK Power and Infrastructure is facing lenders' heat. A consortium of creditors has taken the infrastructure company to the bankruptcy court for debt resolution involving its Goindwal Sahib asset, say sources.
The group of lenders led by IDBI Bank has moved NCLT Hyderabad seeking insolvency proceedings against the GVK Power and Infra arm, ETNow reported.
The insolvency plea, which flowed from RBI's February 12 circular, was filed before the Supreme Court gave its verdict on NPAs on all such assets.
GVK Power Goindwal Sahib is a 540-MW thermal power project.
The total debt load of the company stood at Rs 12,885 crore in 2017-18.
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Stock of GVK Power and Infrastructure closed 5 per cent down on the BSE today.
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