# In the matter of Wind World (India) Limited vs. Indian Renewable Energy & Ors.

> NCLAT judgment dated 2024-08-12. Citation: TCN-2024-NCLAT-00738. The appeal was filed by the Corporate Debtor challenging the order dated 28.11.2022 passed by…

- **Court:** NCLAT
- **Order date:** 12 Aug 2024
- **Citation:** TCN-2024-NCLAT-00738
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/wind-world-india-limited-vs-indian-renewable-energy-ors-1581ccbd

## Summary

### Background

The appeal was filed by the Corporate Debtor challenging the order dated 28.11.2022 passed by the National Company Law Tribunal, Ahmedabad, Division Bench, Court-1, which rejected IA No.422/2022 filed by the RP seeking to quash the invitation of Expression of Interest (Eol) dated 25.04.2022 issued by Respondent No.1, the Financial Creditor.

## Facts

The Corporate Debtor is the holding company of Respondent No.2.

Respondent No.2 is Wind World (India) Infrastructure Private Limited.

The Corporate Debtor proposed to construct and operate a power switchyard for pooling power generated by Enercon India Limited (EIL).

A Facility Agreement was entered into on 28.12.2007 between the Corporate Debtor and Respondent No.2.

Respondent No.2 entered into a Loan Agreement with Respondent No.1, and Respondent No.1 sanctioned a loan of Rs.90 Crores.

CIRP was initiated against the Corporate Debtor on 20.02.2018.

Respondent No.2's account was declared NPA on 31.03.2018.

Respondent No.1 issued a Notice under Section 13(2) of the SARFAESI Act, 2002, against Respondent No.2.

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## Issues and analysis

### Issue 1: Whether the issuance of the Eol by Respondent …

**Ratio:** Section 14(1)(d) of the IBC prohibits the recovery of any property by an owner or lessor

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**Reasoning:** The Corporate Debtor was permitted to use the Facility for operation and maintenance, but

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**Interpretation:** The Facility is neither in occupation nor

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**Application:** The issuance of the Eol by Respondent No.1 does not violate Section 14(1)(d) of

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## Parties

- **Judges:** Ashok Bh…; Barun M…
- **Respondents:** Wind World…; Indian Renewable…; +1 more
- **Other parties:** Shailen…
- **Advocates:** Sumant…; Nidhi Y…; +5 more

## Timeline

- **2018-02-20 — CIRP Commen…**: Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor commenced by…
- **2018-03-31 — NPA Decla…**: Respondent No.2's account was…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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