NCLT admits IDBI Bank's insolvency plea against Wind World (India) Infra
This story was originally published at 14:04 IST on 8 October 2025
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NEW DELHI – The Mumbai bench of the National Company Law Tribunal has admitted IDBI Bank's plea to start insolvency proceedings against Wind World (India) Infrastructure Pvt. Ltd., for an unpaid amount of INR 551.93 million. The tribunal appointed Megha Agrawal as the interim resolution professional of the debt-ridden company to carry out the functions as per the Insolvency and Bankruptcy Code, 2016.
The tribunal rejected Wind World (India) Infrastructure's argument that its holding company Wind World India Ltd. was undergoing insolvency proceedings and admitting the former into insolvency would impact the resolution process of the holding company. The tribunal noted that the subsidiary company is a separate artificial juridical entity and insolvency proceedings could separately be initiated against the holding company as well as its subsidiary in case the other parameters and conditionalities of provisions of Section 7 of the 2016 Code are met.
The case has its genesis in Wind World (India) Infrastructure approaching IDBI Bank for sanction of credit facilities in order to finance the substation and transmission line project situated at multiple sites. Accordingly, a loan was sanctioned to Wind World (India) Infrastructure in 2012.
Due to subsequent defaults on the part of Wind World (India) Infrastructure, its account was classified as a non-performing asset in 2018. On failure to repay the loan amount, the bank moved the tribunal to start insolvency proceedings against Wind World (India) Infrastructure.
At 1341 IST, shares of IDBI Bank were down 0.7% at INR 91.63 on the National Stock Exchange. End
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Surya Tripathi
Edited by Avishek Dutta
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