Adani and Jindal business, Vedanta in race for GVK Power’s Punjab system

Synopsis GVK Power and Infrastructure is the moms and dad business of GVK Power (Goindwal Sahib). The RP did not react to ET’s ask for remarks. GVK Power (Goindwal Sahib) runs 2 thermal power plants of 270 MW each in Punjab and partnered with Coal India for coal supply.AFPNine others consisting of Punjab State Power Corp, Megha Engg and Capri Global send EoIs.Adani Power, Jindal Power and Vedanta are amongst twelve business that have actually revealed preliminary interest in getting distressed manufacturer- GVK Power (Goindwal Sahib), stated 2 individuals knowledgeable about the advancement. GVK Power (Goindwal Sahib) was confessed for business insolvency by the Hyderabad bench of the National Company Law Tribunal last October on an application submitted by Axis Bank. Punjab State Power Corporation (PSPC), which has a power purchase arrangement (PPA) with GVK Power (Goindwal Sahib), too sent an expression of interest (EoI). Sherisha Technologies, a Refex Industries group entity, likewise provided an EoI, the individuals priced quote earlier stated. Megha Engineering & Infrastructure, Rashmi Metaliks, KLJ Resources, India Coke and Power, iLabs Investments, RKG Fund and Capri Global were to name a few who sent EoIs, individuals stated. Ravi Sethia, the resolution expert backed by KPMG, has actually confessed Rs 6,584 crore claims from twelve monetary lenders, according to a disclosure made on the Insolvency and Bankruptcy Board of India site. GVK Power and Infrastructure is the moms and dad business of GVK Power (Goindwal Sahib). The RP did not react to ET’s ask for remarks. GVK Power (Goindwal Sahib) runs 2 thermal power plants of 270 MW each in Punjab and partnered with Coal India for coal supply. In October 2021, the state federal government
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