Disclosure under Regulation 30 of SEBI (LODR) Regulations, 2015

Indowind Energy Limited has submitted a regulatory disclosure to the BSE (Scrip Code: 532894) and NSE (Symbol: INDOWIND) regarding an order passed by the Bombay City Civil Court.

Nature of the Event

This disclosure concerns a final judgment and decree passed in Commercial Summary Suit No. 502 of 2024 (referencing H. C. SUMMARY SUIT NO.1614 OF 2007), a case filed by the Company (Plaintiff) against Bank of Baroda (Defendant).

Court Order Details

  • Authority: The order was passed by the Bombay City Civil Court, Greater Mumbai at Mazgaon (Commercial Court).
  • Judgment: The suit has been partly decreed with costs in favour of Indowind Energy Limited.
  • Directive: The Court has directed Bank of Baroda to pay/encash Bank Guarantee No. MPN/RCK/CICON/182/03-04 dated 26/05/2003 for the principal amount of ₹1,00,00,000/- (Rupees One Crore only) in favour of the Company.
  • Interest: The bank is also directed to pay simple interest on this amount at a rate of 12% per annum. The interest accrual period is from 17/06/2004 (the date of invocation of the guarantee) until the entire amount is realised.

Date of Receipt

The Company received this order on 06th October 2026.

Financial and Operational Impact

As per the disclosure, the impact is quantifiable and positive:

1. The Company is entitled to receive the principal amount of ₹1,00,00,000/-.

2. The Company is entitled to receive interest accrued at 12% p.a. for approximately 23 years, from 17 June 2004 until the date of payment. The company expects this to be a substantial amount.

3. The realisation of this total amount is expected to significantly strengthen the Company's financial position.

4. The additional resources are stated to provide the Company with the ability to undertake larger expansion and repowering projects.

5. These proposed initiatives are expected to contribute to the growth of the Company's turnover and profitability.

6. The disclosure explicitly states there is no adverse impact on the operations of the Company arising from this matter.