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Home › Dodgy Deals ›
Dodgy Deal
GVKIndia

Company – On record

This profile is no longer actively maintained, with the information now possibly out of date
Lead organisation:
BankTrack
Last update: 2015-11-01 14:53:47

Company – On record

This profile is no longer actively maintained, with the information now possibly out of date
Lead organisation:
BankTrack
Last update: 2015-11-01 14:53:47
Why this profile?
About
Sectors Coal Electric Power Generation, Coal Mining, Oil and Gas Extraction
Headquarters
Ownership

GVK founder, GVK Reddy, owns 32.34% of the shares. Other individuals linked to GVK own 12.54% and promotor companies own 9.37%, which means more than 50% of the shares is in the hands of the promoter. GVK is also listed on the National Indian Stock Exchange, where it is traded as GVKP:IN.

Subsidiaries
GVK Hancock – Australia
Website http://www.gvk.com/

GVK is an Indian conglomerate with diversified interests across various sectors including energy, resources, transportation, hospitality and life sciences. It owns operational power plants with capacity of 1,200 megawatt and around 1,400 megawatt of projects under various stages of construction and development. The company had a consolidated turnover in 2015 of USD470 million.

Impacts

Social and human rights impacts

GVK's proposed Alpha Coal project has been taken to court by concerned community members and affected land holders. See the Alpha Coal dodgy deal for more details.

Financiers
Institution type
Finance type
Year
News
BankTrack
Partners
Blog
External
BankTrack news BankTrack blog Partner news Partner blog

The Great Indian Bank Trick, Blessed By The Government

2016-02-24 | NDTV.com
BankTrack news BankTrack blog Partner news Partner blog

Government set to allow private companies like Adani Group, GVK in commercial coal mining

2016-01-09 | The Economic Times India
BankTrack news BankTrack blog Partner news Partner blog

Indian coal barons’ $10 billion global mine investments may flounder

2016-01-05 | The Hindu
BankTrack news BankTrack blog Partner news Partner blog

Coal is not the answer to India's energy poverty, whatever Tony Abbott says

2015-08-07 | The Guardian
BankTrack news BankTrack blog Partner news Partner blog

Australia Lures USD21 Billion Bet on Coal Rebound: Energy Markets

2015-05-24 | Bloomberg
BankTrack news BankTrack blog Partner news Partner blog

Don’t invest in Australia coal mines, scientists warn banks in bid to halt climate change

2015-05-22 | South China Morning Post
BankTrack news BankTrack blog Partner news Partner blog

The financial case against Australia's largest coal mine

2015-05-14 | The Guardian
BankTrack news BankTrack blog Partner news Partner blog

Queensland's miners will need a miracle to profit from coal now

2015-04-29 | The Guardian
Blog
BankTrack news BankTrack blog Partner news Partner blog

Victory for the climate and environment: French banks pledge not to finance mega coal projects in Australia's Galilee Basin

2015-04-08 | Montreuil, France; Nijmegen, Netherlands | Friends of the Earth France / BankTrack
BankTrack news BankTrack blog Partner news Partner blog

Societe Generale pulls out of GVK Hancock's long-delayed coal project

2014-12-08 | Reuters
Blog
BankTrack news BankTrack blog Partner news Partner blog

Under citizen pressure, Société Générale drops out of the Alpha Coal project

2014-12-05 | Bayonne, Montreuil, Paris | Les Amis de la Terre, Bizi! and ATTAC France
BankTrack news BankTrack blog Partner news Partner blog

Wise investment or fossil fools? Queensland backs coal as G20 moves the game on

2014-11-17 | The Sydney Morning Herald
BankTrack news BankTrack blog Partner news Partner blog

Crunch time for coal frontiers as costs could scuttle

2014-10-08 | The Australian Financial Review
BankTrack news BankTrack blog Partner news Partner blog

Australian coal industry caught in ‘perfect storm’

2014-06-19
BankTrack news BankTrack blog Partner news Partner blog

Coal demand falls globally; Adani,GVK to take a hit

2014-05-29 | The Economic Times
Blog
BankTrack news BankTrack blog Partner news Partner blog

Société Générale pressured to step out of Alpha Coal project before AGM starts

2014-05-19 | Paris | Les Amis de la Terre
BankTrack news BankTrack blog Partner news Partner blog

No concerns for GVK at $560m Galilee deadline

2014-05-07 | News Store
BankTrack news BankTrack blog Partner news Partner blog

GVK awaits coal supply to start power plant in Punjab

2014-05-03 | The Economic Times
BankTrack news BankTrack blog Partner news Partner blog

Forecaster says mining in Galilee won't go ahead

2014-04-24 | ABC
Blog
BankTrack news BankTrack blog Partner news Partner blog

Société Générale is breaching its own standards in backing massive, risky Queensland coal project, study finds

2014-04-15 | Paris | Les Amis de la Terre
private BankTrack news BankTrack blog Partner news Partner blog

Australia project: Adani, GVK expect financial closure by 2015

2014-04-02 | The Wall Street Journal
BankTrack news BankTrack blog Partner news Partner blog

Australia project: Adani, GVK expect financial closure by 2015

2014-04-02 | Livemint
BankTrack news BankTrack blog Partner news Partner blog

As bets sour, firms rethink overseas mining assets

2014-03-31 | Livemint
BankTrack news BankTrack blog Partner news Partner blog

As bets sour, firms rethink overseas mining assets

2014-03-31 | Live Mint
BankTrack news BankTrack blog Partner news Partner blog

Anglo’s Port Exit Makes Indian Billionaires Last Backers

2014-03-07 | Bloomberg
BankTrack news BankTrack blog Partner news Partner blog

Australia Coal Port Expansion Mandate Lapsed, Lend Lease Says

2014-02-26 | Bloomberg
BankTrack news BankTrack blog Partner news Partner blog

11 firms got coal blocks via special route, govt tells SC

2014-01-17 | The Times of India
BankTrack news BankTrack blog Partner news Partner blog

GVK in dialogue with banks to fund $10-billion Hancock project

2014-01-11 | The Financial Express
Blog
BankTrack news BankTrack blog Partner news Partner blog

Société Générale drops out of the Alpha Coal project

2014 | BankTrack
BankTrack news BankTrack blog Partner news Partner blog

Green groups explore legal action to halt massive Queensland coalmine

2013-11-04 | The Guardian
BankTrack news BankTrack blog Partner news Partner blog

PowerMin's request on linkages for GVK Power's plant rejected

2013-10-07 | Zee News
BankTrack news BankTrack blog Partner news Partner blog

Court case keeps mine on hold

2013-09-16 | The Sydney Morning Herald
BankTrack news BankTrack blog Partner news Partner blog

EDO Qld corrects mistaken view by GVK Hancock

2013-08-30 | Environmental Defenders Office Qld
BankTrack news BankTrack blog Partner news Partner blog

Investor Alert: GVK’S US$10 billion Australian coal project uneconomic, an unacceptable risk

2013-06-18 | IEEFA
Resources
Documents
Links
2015-05-16 00:00:00

GVK Annual report 2014-2015

Annual report
2015-05-16 00:00:00 | GVK
2014-07-09 00:00:00

Project Update

Company document
2014-07-09 00:00:00 | GVK Hancock Coal
2014-05-16 00:00:00

GVK Annual report 2013-2014

Annual report
2014-05-16 00:00:00 | GVK
2014-05-05 00:00:00

Indian Power Prices

Briefing Note
NGO document
2014-05-05 00:00:00 | IEEFA
2014-04-08 00:00:00

Ruling on Hancock Coal Pty Ltd v Kelly & Ors and Department of Environment and Heritage Protection

Other document
2014-04-08 00:00:00 | LAND COURT OF QUEENSLAND
2013-11-21 00:00:00

Coal Market Update November 2013

Britain and UN weigh in on coal debate in Warsaw
BankTrack publication
2013-11-21 00:00:00 | Greenpeace, BankTrack
2013-09-23 00:00:00

Coal Market Update September 2013

Governments and international financial institutions waking up to the dangers of coal investments
BankTrack publication
2013-09-23 00:00:00 | Greenpeace, BankTrack
2013-07-23 00:00:00

Coal Market Update July 2013

Low prices take their toll on coal firms
BankTrack publication
2013-07-23 00:00:00 | Greenpeace, BankTrack
2013-06-01 00:00:00

Stranded

A Financial analysis of GVK’s proposed Alpha Coal Project in Australia’s Galilee Basin
NGO document
2013-06-01 00:00:00 | IEEFA, Greenpeace Australia Pacific
2013-03-12 00:00:00

Coal Kills

An Assessment of Death and Diseasecaused by India’s Dirtiest Energy Source
NGO document
2013-03-12 00:00:00 | Urban Emissions in partnership with the Conservation Action Trust and Greenpeace India
2012-09-01 00:00:00

Equator Principles and the Alpha Coal Project

NGO document
2012-09-01 00:00:00 | Greenpeace Australia Pacific

GVK sustainability page

Environmental Sustainability

Updates

2016

2016-01-05 00:00:00 | Indian coal barons’ USD10 billion global mine investments may flounder

About USD ten billion worth of investments made by Indian coal barons, including billionaire Anil Ambani, Gautam Adani, L. Madhusudhan Rao, GVK Reddy and G. M. Rao, in buying mines overseas may go down the drain due to declining global prices of the commodity and a surge in domestic output (source: The Hindu).

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