NCLAT sends notice to Gujarat Urja Vikas Nigam to release IL&FS dues

Our Bureau Mumbai | Updated on September 27, 2019 Published on September 27, 2019

The National Company Law Appellate Tribunal (NCLAT) has issued a notice to the Gujarat Urja Vikas Nigam (GUVNL) after IL&FS approached the tribunal seeking the release of ₹145 crore held by the power distribution company.

IL&FS told the NCLAT bench headed by Justice S.J. Mukhopadhaya that (GUVNL) the Gujarat distribution company has withheld payment to five IL&FS wind energy companies. These subsidiary companies are Kaze Energy Limited, Ratedi Wind Power Private Limited, Tadas Wind Energy Private Limited and Khandke Wind Energy Private Limited, the order said.

The tribunal added that notice be issued to GUVNL, for alleged violation of the order passed by NCLAT.

The matter will now be heard on October 15.

Published on September 27, 2019
This article is closed for comments.
Please Email the Editor