India’s Inox Wind moved to reassure investors that it remains “fundamentally solvent” after reports in the country’s media questioned its financial position.
Inox Wind – whose shares were trading 5% lower on the stock market late in Mumbai today – issued a statement on Friday after it became the subject of insolvency proceedings by a creditor.
The wind turbine OEM said it has asked India’s National Company Law Appellate Tribunal to quash those proceedings, adding that it has already settled its “dispute” with the creditor concerned, a company called Jeena & Co.
