Adani Power has issued a clarification regarding recent media reports concerning its potential acquisition of GVK Energy Limited. The company confirmed that GVK Energy entered the Corporate Insolvency Resolution Process (CIRP) on May 6, 2025. Adani Power has submitted a resolution plan, which is currently under consideration. The company noted that it has already secured the necessary Competition Commission of India (CCI) approval as part of the formal bidding process.
Acquisition Process Update
Following recent media coverage, Adani Power has provided an update on its bid to acquire GVK Energy Limited. The target company was admitted into the Corporate Insolvency Resolution Process (CIRP) on May 6, 2025, following a formal filing by lenders due to default. Subsequently, a detailed invitation for the Expression of Interest (EOI) was published on July 10, 2025, inviting bids for the company.
Status of Resolution Plans
Adani Power confirmed that it, along with other interested bidders, has submitted formal resolution plans in response to the invitation. These plans are currently under review and have not yet been voted on or formally approved by the Committee of Creditors (CoC). The bidding process continues to follow the established legal framework for insolvency proceedings.
Regulatory Approvals
As part of the mandatory requirements under the insolvency law, bidders are required to seek clearance from the Competition Commission of India (CCI) before their plans can be evaluated by the CoC. Adani Power has successfully secured this approval, confirming that the regulatory assessment of its bid has been completed. The company remains committed to transparent communication as the resolution process progresses.
Source: BSE
