Somany PF challenges at NCLAT sales of IL&FS Wind Energy assets at Orix Corporation
Somany Provident Fund Institution on Monday challenged the sale of IL&FS Wind Energy (IWEL)’s assets to Orix Corporation at the National Company Law Appellate Tribunal (NCLAT).
The Kolkata-based fund management company has questioned the NCLT Mumbai’s approval to the sale of seven wind special purpose vehicles to Japan-based Orix, since the NCLAT’s jurisdiction to impose moratorium over loans according to the Companies Act is under challenge.
