Total Bank Loan Facilities Rated-Rs.3938 crore Long –Term Rating-CRISIL AA- (Placed on Rating Watch with Negative Implications) Short-Term Rating-CRISIL A1+ (Placed on Rating Watch with Negative Implications)
The rating action follows the initiation of insolvency proceedings against the Company in National Company Law Tribunal (NCLT), Chandigarh Bench in the matter of Jeena & Co. V/s Inox Wind. The Company has filed an appeal against the orders of NCLT before the National Company Law Appellate Tribunal (NCLAT) and the next hearing is scheduled for disposal on 24 July, 2017. CRISIL will take a final rating view after considering the final order of NCLAT.
