The Mumbai bench of the National Company Law Tribunal (NCLT) has ordered the initiation of the corporate insolvency resolution process (CIRP) against Wind World (India) Infrastructure following an application filed by IDBI Bank. The tribunal also appointed Megha Agrawal as the interim resolution professional (IRP) for the company.
The state-owned lender approached the tribunal after the company defaulted on dues of about Rs 55 crore. The company is a subsidiary of Wind World India Limited, which is also facing CIRP and has admitted liabilities of more than Rs 6,147 crore.
The division bench of judicial member Mohan Prasad Tiwari and technical member Charanjeet Singh Gulati, while admitting the company for insolvency resolution, observed…