The resolution professional (RP) for the troubled GVK Gautami Power Ltd, a 471 MW capacity gas-based power plant in Kakinada district of Andhra Pradesh, has sought Expression of Interest (EOI) from corporates, finance firms, and Asset Reconstruction Companies (ARCs).
The financial creditor, Edelweiss Asset Reconstruction Company Limited, had filed a petition to initiate a Corporate Insolvency Resolution Process (CIRP) against GVK Gautami Power for allegedly defaulting on payment of a debt of Rs 1,447 crore. This covered the principal and interest. Edelweiss also sought a moratorium and the appointment of a Resolution Professional.
The National Company Law Tribunal (NCLT), Hyderabad bench, during its hearing on October 20, 2023, initiat…
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