Receipt of NCLT approval in the matter of Wind World (India) Limited
As filed · Authum Investment & Infrastructure Limited has informed the Exchange about the receipt of NCLT approval in the matter of Wind World (India) Limited
DistressMixedCriticalmateriality 98 out of 100
What happened
FactAuthum Investment & Infrastructure Ltd. has submitted a Resolution Plan in collaboration with INEL, where INEL will acquire the IPP and power sale undertaking, as well as the operations and maintenance business of WWIL. The Company will acquire certain identified real estate and assets from WWIL, with a financial commitment of approximately INR 350 crore. The filing has been submitted to the BSE Ltd. for record-keeping.
Why it matters
CapitSignal interpretationOnce an insolvency process is admitted, control of the company passes from the board to a resolution professional and equity ranks last in any recovery.
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Fact- Admission or rejection of the application by the tribunal
- Appointment of a resolution professional
- Claims admitted against the company
Evidence
How CapitSignal classified this
- Reasoning:
- INSOLVENCY base 93; +5 quantified amount; explicit insolvency/default evidence present; matched on subject
- Matched on:
- the filing's own subject line
- Confidence in the event type:
- 75%