{"id":289282,"date":"2019-08-29T06:00:38","date_gmt":"2019-08-29T06:00:38","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=289282"},"modified":"2019-08-29T06:00:38","modified_gmt":"2019-08-29T06:00:38","slug":"ilfs-can-sell-51-in-wind-units-to-japanese-investor","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/ilfs-can-sell-51-in-wind-units-to-japanese-investor\/","title":{"rendered":"IL&amp;FS can sell 51% in wind units to Japanese investor"},"content":{"rendered":"<p>MUMBAI: A bankruptcy court has approved the sale of the wind energy assets of IL&amp;FS to Japan\u2019s Orix Corp, one of the original investors in the cash-strapped infrastructure financier. It is the first step in a restructuring process involving sale of assets that have demand externally. <\/p>\n<p>On Wednesday, the Mumbai bench of the National Company Law Tribunal (NCLT) allowed the governmentappointed board\u2019s plea for the sale of IL&amp;FS\u2019 balance 51% stake in seven wind energy units to Orix. The Japanese company already owns a 49% stake in each of those units. <\/p>\n<p>The NCLT division bench was presided over by judicial member VP Singh. The technical member was Rajesh Sharma. \u201cThe company should deposit the fund from the asset sale in an interest bearing account until further orders,\u201d said the tribunal. \u201cThe amount should not be used for any other purpose.\u201d <\/p>\n","protected":false},"excerpt":{"rendered":"<p>MUMBAI: A bankruptcy court has approved the sale of the wind energy assets of IL&amp;FS to Japan\u2019s Orix Corp, one of the original investors in the cash-strapped infrastructure financier. It is the first step in a restructuring process involving sale of assets that have demand externally. On Wednesday, the Mumbai bench of the National Company Law Tribunal (NCLT) allowed the governmentappointed board\u2019s plea for the sale of IL&amp;FS\u2019 balance 51% stake in seven wind energy units to Orix. The Japanese company already owns a 49% stake in each of those units. The NCLT division bench was presided over by judicial [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,239,136],"tags":[],"class_list":["post-289282","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-power-the-economic-times","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/289282","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=289282"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/289282\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=289282"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=289282"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=289282"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}