NCLT Mumbai Bench Opens Insolvency Proceedings Against Wind World Subsidiary Over ₹55 Crore Default

The Mumbai bench of the National Company Law Tribunal (NCLT) has admitted IDBI Bank's insolvency resolution application against Wind World (India) Infrastructure, initiating the Corporate Insolvency Resolution Process (CIRP).

The bench, comprising Judicial Member Mohan Prasad Tiwari and Technical Member Charanjeet Singh Gulati, appointed Megha Agrawal as the Interim Resolution Professional (IRP). The company, a subsidiary of Wind World India Limited (WWIL), defaulted on dues of approximately ₹55 crore.

IDBI Bank contended that the default was due to WWIL's resolution professional halting usage charge payments, which were the subsidiary's sole revenue source.

The Corporate Insolvency Resolution Process against WWIL is currently under appeal before the NCLAT.