KSK Wind Energy Private Limited (Corporate Debtor/CD) filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016 (IBC) for the initiation of Corporate Insolvency Resolution Process (CIRP). The CD defaulted on Optionally Convertible Redeemable Debentures (OCRDs) issued to Mithra Venture Projects and Investments LLP and an Inter-Corporate Deposit (ICD) obtained from KSK Electricity Financing India Private Limited. The CD, a wholly-owned subsidiary of KSK Energy Ventures Limited (KSKEVL) which underwent liquidation, faced financial difficulties despite efforts by new shareholders to revive its operations, leading to insufficient income to service its liabilities.
M/s. KSK Wind Energy Private Limited (Corporate Debtor/CD) filed an application seeking initiation of Corporate Insolvency Resolution Process (CIRP) under Section 10 of the Insolvency and Bankruptcy Code, 2016 (IBC).
The CD was incorporated on 07.10.2005 with CIN: U40109TG2005PTC047721 and is involved in the business of production, collection, and distribution of electricity.
In FY 2013-14, the CD issued 2,10,00,000 Optionally Convertible Redeemable Debentures (OCRDs) of Rs. 10/- each to Mithra Venture Projects and Investments LLP, which were repayable on 20.02.2024, and the CD defaulted on their redemption.
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KSK Wind Energy…
The CD issued 2,10,00,000 Optionally…
KSK Wind Energy Private Limited (Corporate Debtor/CD) filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016 (IBC) for the initiation of Corporate Insolvency Resolution Process (CIRP). The CD defaulted on Optionally Convertible Redeemable Debentures (OCRDs) issued to Mithra Venture Projects and Investments LLP and an Inter-Corporate Deposit (ICD) obtained from KSK Electricity Financing India Private Limited. The CD, a wholly-owned subsidiary of KSK Energy Ventures Limited (KSKEVL) which underwent liquidation, faced financial difficulties despite efforts by new shareholders to revive its operations, leading to insufficient income to service its liabilities.
M/s. KSK Wind Energy Private Limited (Corporate Debtor/CD) filed an application seeking initiation of Corporate Insolvency Resolution Process (CIRP) under Section 10 of the Insolvency and Bankruptcy Code, 2016 (IBC).
The CD was incorporated on 07.10.2005 with CIN: U40109TG2005PTC047721 and is involved in the business of production, collection, and distribution of electricity.
In FY 2013-14, the CD issued 2,10,00,000 Optionally Convertible Redeemable Debentures (OCRDs) of Rs. 10/- each to Mithra Venture Projects and Investments LLP, which were repayable on 20.02.2024, and the CD defaulted on their redemption.
…KSK Wind Energy…
The CD issued 2,10,00,000 Optionally…