Adani Power clarifies on GVK Energy acquisition report, says resolution plans not yet approved by CoC

Adani Power has issued a clarification regarding media reports claiming that the company received Competition Commission of India approval to acquire GVK Energy.

The company clarified that GVK Energy Limited was admitted into the Corporate Insolvency Resolution Process on May 6, 2025, after a Section 7 application under the Insolvency and Bankruptcy Code was filed by lenders due to default.

Adani Power said a detailed invitation for Expression of Interest was published on July 10, 2025, for the insolvency process. The company, along with several other bidders, submitted resolution plans in response to the EOI.

However, Adani Power clarified that the resolution plans submitted by bidders are still under consideration and have not yet been voted on or approved by the Committee of Creditors.

The company said that under existing law, approval from the Competition Commission of India was required before the Committee of Creditors could consider the bidders’ resolution plans. Accordingly, an application was submitted to the CCI and has been approved, while the Commission’s final order will follow.

Adani Power added that it remains committed to making timely disclosures in accordance with SEBI Listing Regulations. The company said further updates will be provided if there is any material development in the matter.

Overall, the clarification indicates that while CCI approval has been received as part of the process, Adani Power’s resolution plan for GVK Energy has not yet received approval from the Committee of Creditors.

Disclaimer: This article is based on a regulatory filing submitted by Adani Power to the stock exchanges. The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks.