Lenders to GVK Power and Infrastructure (GPIL) would re-run the debt-laden company‘s insolvency process and seek separate bids for each of the four individual assets that cover businesses as diverse as land parcels, power, roads, and a residual stake in the Mumbai airport, documents accessed by ET showed. About ₹16,000 crore of bank funds are stuck in this account.
“This is the second attempt to find a buyer,” a finance industry executive aware of the details told ET. “Lenders believe that selling the company on an asset basis will lead to better value since this company has different businesses and not all bidders will be keen to bid for the company…