Mumbai: The beleaguered Gujarat Mineral Development Corporation (GMDC), which has seen its scrip fall sharply in September, is facing the dark shadow of Lehman Brothers over its power project in Chattisgarh. GMDC has a joint venture with KSK Energy to set up a 1800 MW coal-based power project at Korba. Almost 30% of equity in the Hyderabadbased KSK is held by the fallen US financial giant. Two years back, when GMDC signed the agreement for the Rs 8,000 crore project, LB India Holdings Mauritius Ltd, held 90% equity in KSK, which came down to 30% following an IPO. The Lehman Brothers' firm cannot sell the shares in KSK, as there is a lock-in period till July 2009. GMDC was to pick up 26% equity stake in the proposed power plant which was to get coal from GMDC's Mogra block. GMDC's share in the power output was 1010 MW. The GMDC is already in trouble with its scrip falling sharply in September.