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22 Bidders Eye Troubled Gupta Power
17 Feb
Summary
- 22 companies submitted bids for debt-laden Gupta Power.
- Creditor claims against Gupta Power total ₹4,240 crore.
- Insolvency proceedings are underway for Gupta Power.
Gupta Power Infrastructure, a manufacturer of cables, wire rods, and conductors, is currently undergoing insolvency proceedings. A total of 22 prospective bidders have submitted expressions of interest to acquire the debt-laden company. Admitted debtor claims against Gupta Power amount to ₹4,240 crore.
Prominent companies showing interest include Jindal Power, Vedanta, Havells India, UltraTech Cement, Waaree Energies, and Torrent Electricals. Several engineering and manufacturing firms have also joined the race, some as consortium partners. Authum Investment & Infrastructure, a non-banking finance company, is also among the applicants.
The National Company Law Tribunal (NCLT), Kolkata Bench, initiated the corporate insolvency resolution process (CIRP) on September 26, 2025, after admitting a petition from a consortium of banks led by Canara Bank. The deadline for submitting resolution plans is February 20.
