GVK Power & Infrastructure CIRP restored, 120-day deadline

GVK Power & Infrastructure Limited’s Corporate Insolvency Resolution Process (CIRP) was restored by the National Company Law Tribunal (NCLT) on 16 October 2026, with completion directed within a further 120 days. The Hyderabad Bench-II allowed the restoration application after recording that the requisite majority of the Committee of Creditors (CoC) had approved it.

What did NCLT order for GVK Power & Infrastructure?

The NCLT, Hyderabad Bench-II, restored GVK Power & Infrastructure’s CIRP on 16 October 2026 and directed that it be completed within 120 days from that date. The direction was issued in IA (IBC) 1473/2026, an application filed specifically for restoration of the insolvency process.

GVK Power & Infrastructure disclosed the order to the Bombay Stock Exchange and National Stock Exchange of India on 6 November 2026. Its exchange communication, issued under Regulation 30 and Schedule III of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, described the company as being under CIRP and enclosed the NCLT order.

The order changes the recorded procedural position from a pending restoration application to a restored CIRP with a court-set completion period. The two-member bench stated that it had reviewed the records and was satisfied that the applicant could meet the requirement under Clause 33(1)(a).

Why was GVK Power & Infrastructure’s CIRP restored?

GVK Power & Infrastructure’s CIRP was restored because the NCLT recorded compliance with Clause 33(1)(a) and approval by the requisite CoC majority. These are the two grounds expressly cited by the Hyderabad Bench-II in its order of 16 October 2026.

The filing does not provide the number of CoC members voting, their voting shares, or the percentage supporting restoration. It also does not identify the creditors that constituted the requisite majority, limiting the disclosure to the tribunal’s finding that the approval threshold had been met.

The restoration application was filed in Company Petition IB/260/7/HDB/2022 under Section 7 of the Insolvency and Bankruptcy Code (IBC). The order sheet identifies the underlying matter as ICICI Bank Ltd versus GVK Power And Infrastructure Ltd, with ICICI Bank Ltd named as the petitioner.

How long does GVK Power & Infrastructure have to complete CIRP?

GVK Power & Infrastructure has 120 days from 16 October 2026 to complete the restored CIRP, as directed by the NCLT. The order uses the wording that CIRP “be completed within 120 days from today,” with the hearing held on 16 October 2026 at 10:30 a.m.

The 120-day period is a tribunal direction rather than a management target. GVK Power & Infrastructure repeated in its 6 November 2026 announcement that the restored process must be completed within a further period of 120 days from the date of the NCLT order.

The filing does not set out any milestones during that period, including dates for inviting resolution plans, CoC meetings, creditor voting or further hearings. It also does not disclose a resolution applicant, a proposed plan, or the value of any potential resolution consideration.

Which proceeding covers GVK Power & Infrastructure’s restoration?

GVK Power & Infrastructure’s restoration order is IA (IBC) 1473/2026 in Company Petition IB/260/7/HDB/2022 before NCLT Hyderabad Bench-II. The hearing was conducted in hybrid video-conference and physical mode on 16 October 2026.

The bench comprised Shri Rajeev Bhardwaj, Member (Judicial), and Shri Sanjay Puri, Member (Technical). The order sheet records Mr. Pulkit Sharma as counsel for the applicant and states that the bench examined the entire record before allowing the application.

The order does not describe the arguments presented at the hearing or provide the procedural events that led to the request for restoration. It records only that the application sought restoration of CIRP, that the applicant met the Clause 33(1)(a) requirement, and that the requisite CoC majority had approved restoration.

What remains undisclosed in GVK Power & Infrastructure’s filing?

GVK Power & Infrastructure’s filing does not disclose any financial claims, admitted debt, asset value, liabilities, recovery estimate or resolution-plan amount. The 6 November 2026 exchange communication and the attached 16 October 2026 order are limited to the restoration decision and the 120-day completion requirement.

The filing also does not name the insolvency professional, list CoC members, or identify any bidder or resolution applicant. This means the source establishes the procedural timetable but provides no disclosed commercial terms that creditors may consider during the restored CIRP.

The disclosure gives no separate calendar-end date for the 120-day period. The relevant timing anchors are the NCLT order dated 16 October 2026 and GVK Power & Infrastructure’s stock-exchange disclosure dated 6 November 2026, 21 calendar days after the order.

Conclusion

GVK Power & Infrastructure’s CIRP has resumed under an NCLT order dated 16 October 2026, replacing the restoration application with an active process subject to a 120-day completion direction. The tribunal based restoration on its finding under Clause 33(1)(a) and the requisite CoC-majority approval.

The next disclosed matter to watch is progress toward completion within the NCLT’s 120-day period. The present filing leaves the creditor voting details, claims, resolution applicants, plan terms and any recovery value unresolved, so a later exchange or tribunal disclosure could provide the next material detail.