Indian company Inox Wind has issued a statement to reassure investors that it remains solvent and in “excellent financial health” following news articles claiming the contrary.
It said a dispute with a creditor – Jeena & Company – had been resolved despite the National Company Law Tribunal’s Chandigarh bench ordering the commencement of a legal process in response to the creditor’s plea.
“In this connection, we would like to clarify that (Inox Wind) has preferred an appeal before the National Company Law Appellate Tribunal praying that the said proceedings be quashed,” Inox said.
The company added that on average over the last three years net profit at Inox Wind had been Rs354 crores (€48m).
Image: Inox Wind
Inox reassures investors
Indian developer says it is solvent and in 'excellent financial health'
By EBS