Omkara ARC acquires bankrupt Wind World India’s debt with ₹1,225 crore bid — details here

Areion Group ARC’s sister company Omkara Asset Reconstruction Company said on Friday, a bankrupt Wind World India’s debt from the National Asset Reconstruction Company LTD (NARCL) La1,225 Crore offer.

Narcl, a bad bank operated by the state, initially acquired its debt. LaAbout 18 months ago, 3,763 crore. The new sale of the debt, in a company statement, said that the Swiss Challenge method resulted in Omkara Arc.

Wind World India, known as Enercon India Limited, runs 650 MW renewable energy project and manages operation and maintenance for Andhra Pradesh, Gujarat, Karnataka, Maharashtra, Rajasthan, Tamil Nadu and Madhya Pradesh.

What does Omkara mean for Ark?

This strategic acquisition will position OMKARA as the head decision maker in the ongoing corporate bankruptcy decision of Wind World India, because they gained 80 percent of the vote in the Company Credit Committee (COC). La1,225 Crore Investment.

Wind World India’s front road was cleaned to restart the bankruptcy process, as the National Company Law Court (NCLT) approved the withdrawal of the current decision plan.

This decision will allow the company to invite new statements of interest from the potential solution applicants, and that new investors or buyers can offer their suggestions to revive the job. Essentially, the previous decision plan for the bankruptcy company taken into consideration is no longer in force.

Commenting on the purchase process, Areion Group’s founding partner and general manager Manish Lalwani said, “This is more than a strategic investment, which is more than a strategic investment, which is the re -confirming of our commitment to the economic revival of India for complex, high -influential assets. Wind World India represents a critical part of the country’s renewable energy violation and a country of our country. represents.