NCLT Approves Resolution Plan for Wind World India by Authum Investment and Inox Neo Energies

The Ahmedabad bench of the Hon'ble National Company Law Tribunal (NCLT) has approved the Resolution Plan submitted by a consortium comprising Inox Neo Energies Limited (INEL) and Authum Investment & Infrastructure Limited (AIIL) for the acquisition of Wind World (India) Limited (WWIL) under the Insolvency and Bankruptcy Code (IBC), 2016.

Key Terms and Asset Distribution Structure

The NCLT-approved Resolution Plan sets out a clear division of WWIL's business units and assets between the consortium members:

Inox Neo Energies Limited (Lead Member): INEL and/or its affiliates will acquire the Independent Power Producer (IPP) and power sale undertaking, along with the Operations and Maintenance (O&M) business of Wind World (India) Limited.

Authum Investment & Infrastructure Limited: AIIL and/or its affiliates will acquire specific identified real estate assets and non-core properties of WWIL.

Financial Commitment

To execute its part of the strategic acquisition framework, Authum Investment & Infrastructure Limited has committed approximately ₹350 crore (INR 350,00,00,000) under the Resolution Plan.

The transaction marks a critical milestone in the insolvency resolution process of Wind World (India) Limited, transferring operational renewable energy generation assets to Inox Neo Energies while delivering real estate asset monetization opportunities to Authum Investment.

Source : Equity Bulls

Keywords

AuthumInvestmentandInfrastructure InoxNeoEnergies NCLT ResolutionPlan approval WindWorldIndia