Adani Power Provides Update on GVK Energy Insolvency Status and CCI Approval

Adani Power Provides Update on GVK Energy Insolvency Status and CCI Approval​

Adani Power Ltd. provided an update concerning the ongoing Corporate Insolvency Resolution Process (CIRP) of GVK Energy Limited. The company confirmed that the resolution plans submitted by various bidders remain under consideration, following necessary approvals from the Competition Commission of India (CCI).

GVK Energy Limited had initially been admitted into the CIRP on May 6, 2025. This admission followed a Section 7 application under the Insolvency and Bankruptcy Code (IBC) filed by lenders due to default.

The process gained momentum when a detailed invitation for Expression of Interest (EOI) was published on July 10, 2025, for the CIRP. Subsequent to the EOI, Adani Power stated that the company, along with several other bidders, submitted their respective resolution plan(s).

Current Status of Resolution Plans

The core development outlined is that the resolution plans submitted by the bidders are still pending review. As of the update, these plans have not been voted on or formally approved by the Committee of Creditors (CoC).

Adani Power detailed the requirement for regulatory oversight, noting that under existing law, seeking approval from the Competition Commission of India (CCI) was mandatory before the CoC could consider the resolution plans of the bidders. The company confirmed that an application was submitted to the CCI, which has subsequently been approved. The CCI approval stipulated that the official order of the Commission in this regard would follow.

ADANIPOWER Stock Price Movement​

Shares of Adani Power Limited are edging higher to ₹220.34 as of 10:13 AM today, rallying 3.03% in live trading. The stock sees robust interest, trading on a high volume of 10.83 million shares.