The case involves IA 473 of 2022 filed by the Resolution Professional (RP) of the Corporate Debtor, Wind World (India) Limited, under Section 60(5) read with Section 14 of the Insolvency and Bankruptcy Code (IBC) and Rule 11 of the National Company Law Tribunal (NCLT) Rules, 2016. The RP sought to quash and set aside an order dated 07.05.2022 passed by the Principal Chief Conservator of Forests, Bangalore (Respondent No. 1), which directed the Chief Conservator of Forests, Ballari Circle (Respondent No. 2), to suspend the operation of windmills. The RP also requested directions to allow the corporate debtor to operate the windmills and for BESCOM to continue releasing 90% of the power sale revenue to the corporate debtor, retaining 10%. The corporate debtor was
…Wind World (India) Limited is undergoing Corporate Insolvency Resolution Process (CIRP) since 02.02.2018. The Resolution Professional (RP) was appointed and his appointment was later confirmed. A resolution plan was received and approved by the Committee of Creditors (CoC). The Resolution Applicant applied to withdraw the Resolution Plan due to delays in approval and loss of commercial viability. The NCLT initially permitted withdrawal, but this was overturned by the NCLAT. The RP filed IA 473 of 2022 seeking to quash an order dated 07.05.2022 passed by the Principal Chief Conservator of Forests, Bangalore (Respondent No. 1), which directed the Chief Conservator of Forests, Ballari Circle (Respondent No. 2), to suspend the operation of windmills. The RP also requested
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The case involves IA 473 of 2022 filed by the Resolution Professional (RP) of the Corporate Debtor, Wind World (India) Limited, under Section 60(5) read with Section 14 of the Insolvency and Bankruptcy Code (IBC) and Rule 11 of the National Company Law Tribunal (NCLT) Rules, 2016. The RP sought to quash and set aside an order dated 07.05.2022 passed by the Principal Chief Conservator of Forests, Bangalore (Respondent No. 1), which directed the Chief Conservator of Forests, Ballari Circle (Respondent No. 2), to suspend the operation of windmills. The RP also requested directions to allow the corporate debtor to operate the windmills and for BESCOM to continue releasing 90% of the power sale revenue to the corporate debtor, retaining 10%. The corporate debtor was
…Wind World (India) Limited is undergoing Corporate Insolvency Resolution Process (CIRP) since 02.02.2018. The Resolution Professional (RP) was appointed and his appointment was later confirmed. A resolution plan was received and approved by the Committee of Creditors (CoC). The Resolution Applicant applied to withdraw the Resolution Plan due to delays in approval and loss of commercial viability. The NCLT initially permitted withdrawal, but this was overturned by the NCLAT. The RP filed IA 473 of 2022 seeking to quash an order dated 07.05.2022 passed by the Principal Chief Conservator of Forests, Bangalore (Respondent No. 1), which directed the Chief Conservator of Forests, Ballari Circle (Respondent No. 2), to suspend the operation of windmills. The RP also requested
…The corporate…
The lease period…