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Informist, Monday, May 11, 2026

 

NEW DELHI – The Ahmedabad bench of the National Company Law Tribunal Monday sent back the Inox Group and Authum Investment & Infrastructure Ltd.'s resolution plan for debt-ridden Wind World (India) Ltd. to the committee of creditors. The tribunal's order came on Enercon GmbH's plea seeking to include its claims and subsequent payment to the company in the Inox group and Authum Investment's resolution plan. The committee of creditors will carry out the necessary revisions to the submitted resolution plan, the tribunal said.

 

The tribunal directed the resolution professional of Wind World to take the necessary steps to convene a meeting of the committee of creditors for the reconsideration and approval of the revised resolution plan. To facilitate completion of the insolvency process, the tribunal granted a further 20-day extension to complete Wind World's insolvency resolution. The resolution professional will place the revised plan before the tribunal within 15 days, it added.

 

The committee of creditors had approved the resolution plan submitted by Inox Group and Authum Investment for Wind World. The acquisition was to be undertaken by Inox Clean Energy Ltd. through its subsidiary Inox Neo Energies and Inox Green Energy Services Ltd. Under the transaction, Inox Clean Energy, through Inox Neo Energies, will acquire Wind World India's operational wind power producing portfolio of approximately 600 megawatts. Inox Green Energy Services will acquire Wind World India's wind operations and maintenance business with a portfolio of nearly 4.5 gigawatts. Further, Authum Investment and its affiliates were to acquire certain identified real estate assets from Wind World.

 

The tribunal admitted insolvency proceedings against Wind World on the basis of a complaint by IDBI Bank. The bank had granted a working capital loan of INR 7.94 billion to Wind World. The debt-ridden company's 600-MW wind power capacity is spread across Karnataka, Maharashtra, Tamil Nadu, Rajasthan, Gujarat, Madhya Pradesh, and Andhra Pradesh. Its operations and maintenance portfolio services clients include the Tata group, ReNew, Greenko, Apraava Energy and Hindustan Zinc Ltd. 

 

Monday, shares of Inox Green Energy Services ended 1.2% lower at INR 188.29 on the National Stock Exchange, while shares of Authum Investment & Infrastructure ended 1.6% higher at INR 502.75.  End

 

Reported by Surya Tripathi

Edited by Saji George Titus

 

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