Legal8 Sept 2026, 05:50 pm
NCLT Indore Dismisses Insolvency Plea Against EKI Energy Services
AI Summary
The National Company Law Tribunal (NCLT), Indore Bench, has dismissed and disposed of an insolvency application (CP(IB)/56(MP)2025) filed by Oswal Woollen Mills Limited against EKI Energy Services Ltd. The application, filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, sought to initiate Corporate Insolvency Resolution Process (CIRP). Oswal Woollen Mills had alleged non-payment for the supply of Certified Emission Reductions (CERs) as per an agreement dated April 12, 2022. The NCLT's order, pronounced on September 3, 2026, and uploaded on September 8, 2026, resolves this dispute, preventing the initiation of CIRP against EKI Energy Services.
Key Highlights
- NCLT Indore dismissed insolvency application against EKI Energy Services.
- Oswal Woollen Mills' plea for CIRP initiation was rejected.
- Dispute stemmed from alleged non-payment for emission reduction credits.
- Order prevents initiation of Corporate Insolvency Resolution Process.
- Company's operational continuity is unaffected by the plea.
Price Impact
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