GVK Power Australian Subsidiaries Commence Liquidation Proceedings

GVK Power & Infrastructure Ltd (GVKPIL) has been informed about the commencement of liquidation proceedings for five Australian subsidiaries of its associate, GVK Coal Developers (Singapore) Pte Ltd (GVKCDPL). The affected subsidiaries are Hancock Alpha West Pty Ltd, Hancock Coal Pty Ltd, Hancock Galilee Pty Ltd, Hancock Kevin's Corner Pty Ltd, and Hancock Coal Infrastructure Pty Ltd. GVKPIL holds a 10% equity interest in GVKCDPL and has already fully impaired its investments and receivables related to this associate. The company's exposure from corporate guarantees and lenders' claims has been disclosed in its financial statements. Further material developments will be disclosed as they become available.