IDBI Bank Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Wind World (India) Limited, treating it as the Corporate Debtor. Several other operational creditors also filed petitions under Section 9 of the IBC against Wind World. IDBI Bank had granted working capital limits to Wind World, which the company defaulted on. Wind World cited various reasons for its financial difficulties, including a workers' strike, changes in government policy, and liquidity constraints.
IDBI Bank Limited, the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Wind World (India) Limited, the Corporate Debtor. IDBI Bank had granted working capital limits aggregating to Rs. 793,53,00,000 to Wind World. Wind World defaulted on its repayment obligations. The outstanding amount due to IDBI as on 15.12.2017 was Rs. 856,11,59,444/-. Wind World cited reasons for its financial difficulties, including a workers' strike, changes in government policy, and liquidity constraints. Several operational creditors also filed petitions under Section 9 of the IBC against Wind World for unpaid dues related to services and supplies.
Sign in to view the parties.
IDBI vide Master Reconstructing Agreement…
Petitioner Bank issued Notice dated 21st…
IDBI Bank Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Wind World (India) Limited, treating it as the Corporate Debtor. Several other operational creditors also filed petitions under Section 9 of the IBC against Wind World. IDBI Bank had granted working capital limits to Wind World, which the company defaulted on. Wind World cited various reasons for its financial difficulties, including a workers' strike, changes in government policy, and liquidity constraints.
IDBI Bank Limited, the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Wind World (India) Limited, the Corporate Debtor. IDBI Bank had granted working capital limits aggregating to Rs. 793,53,00,000 to Wind World. Wind World defaulted on its repayment obligations. The outstanding amount due to IDBI as on 15.12.2017 was Rs. 856,11,59,444/-. Wind World cited reasons for its financial difficulties, including a workers' strike, changes in government policy, and liquidity constraints. Several operational creditors also filed petitions under Section 9 of the IBC against Wind World for unpaid dues related to services and supplies.
IDBI vide Master Reconstructing Agreement…
Petitioner Bank issued Notice dated 21st…