Adani Power Limited has clarified to the stock exchanges that while it has received approval from the Competition Commission of India for its resolution plan in the GVK Energy Limited insolvency process, the acquisition is far from complete — with the Committee of Creditors yet to vote on or approve any resolution plan submitted by bidders.
The clarification was filed with BSE on May 14, 2026, in response to a BSE query dated May 13 seeking explanation regarding a Moneycontrol report titled “Adani Power gets CCI nod to acquire GVK Energy” published on May 12, 2026.
The full sequence of events
GVK Energy Limited was admitted into the Corporate Insolvency Resolution Process on May 6, 2025, following a Section 7 application filed by lenders under the Insolvency and Bankruptcy Code due to default. A detailed invitation for Expression of Interest was published on July 10, 2025 for the CIRP.
Adani Power submitted a resolution plan in response to the EOI — as did multiple other bidders. The company’s clarification explicitly states that resolution plans submitted by all bidders are still under consideration and have not yet been voted on or approved by the Committee of Creditors.
Under applicable insolvency law, CCI approval is a mandatory prerequisite that must be obtained before the CoC considers resolution plans. Adani Power accordingly filed an application with CCI — which has now been approved. However, the CCI’s own approval note states that “the order of the Commission in this regard will follow” — meaning even the formal CCI order is pending. The CoC vote, which would determine whether Adani Power’s resolution plan is actually accepted, remains a subsequent step after both CCI’s formal order and the CoC deliberation.
What the clarification means for investors
The Moneycontrol headline — “Adani Power gets CCI nod to acquire GVK Energy” — created a market impression that the acquisition was effectively concluded. Adani Power’s exchange filing corrects this significantly. The CCI approval is a necessary but not sufficient condition for the acquisition. The process still requires the formal CCI order, the CoC vote on competing resolution plans, and NCLT approval of the chosen resolution plan before any acquisition is legally complete.
Adani Power has stated it will provide further updates if there is any material development in the matter.
What is GVK Energy?
GVK Energy Limited is an infrastructure and energy company that was part of the broader GVK Group — a conglomerate with interests in airports, power, hospitality, and resources. The company defaulted on lender obligations, triggering the IBC proceedings in May 2025. GVK Energy’s power assets — if acquired through the resolution process — would add generation capacity to Adani Power’s already substantial portfolio, which operates as one of India’s largest private thermal power producers.
This is a developing corporate story. Business Upturn will update coverage as the CCI formal order, CoC proceedings, and any material developments in the GVK Energy resolution process unfold.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors are advised to consult a registered financial advisor before making any investment decisions. Business Upturn does not hold any position in the securities mentioned.