Inox Wind Energy has infused Rs 800 crore into Inox Wind Limited, a subsidiary, to repay a portion of its outstanding debt. Inox Wind Energy had previously raised the same amount through the sale of equity shares of Inox Wind through block deals on the stock exchanges. The funds are expected to contribute to Inox Wind s goal of becoming a net-debt free company
According to CDEL, its total outstanding amount is Rs 189.14 crore from loans or revolving facilities like cash credit from banks or financial institutions
By not making such disclosures, the company violated the provisions of LODR rules and accordingly, Sebi imposed a "penalty of Rs 7 lakh on the noticee viz. Shapoorji Pallonji and Company Pvt. Ltd".