IDBI Bank Limited, the Financial Creditor (FC), filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) against M/s GVK Coal (Tokisud) Company Private Ltd, the Corporate Debtor (CD), seeking initiation of the Corporate Insolvency Resolution Process (CIRP). The petition arose from a default in repayment of a debt amounting to Rs 39,66,95,710.46 as on November 1, 2025. The CD was incorporated by GVK Power (Goindwal Sahib) Limited (GPGSL) to develop a coal mine for its power project. A Facility Agreement for loans up to Rs 225 crores was executed in 2010, with IDBI Security Trustee appointed. The project faced delays, leading to loan restructuring. Subsequently, the Supreme Court cancelled coal block allocations in 2014, impacting the CD and

IDBI Bank Limited, the Financial Creditor (FC), filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) against M/s GVK Coal (Tokisud) Company Private Ltd, the Corporate Debtor (CD), seeking initiation of the Corporate Insolvency Resolution Process (CIRP). The petition arose from a default in repayment of a debt amounting to Rs 39,66,95,710.46 as on November 1, 2025. The CD was incorporated by GVK Power (Goindwal Sahib) Limited (GPGSL) to develop a coal mine for its power project. A Facility Agreement for loans up to Rs 225 crores was executed in 2010, with IDBI Security Trustee appointed. The project faced delays, leading to loan restructuring. Subsequently, the Supreme Court cancelled coal block allocations in 2014, impacting the CD and