Indowind Energy Limited secures Rs 1.00 crore judgment and accrued interest from Bank of Baroda

Indowind Energy Limited announced that the Bombay City Civil Court has passed a final judgment in its favour in a suit against Bank of Baroda, directing the bank to pay and encash Bank Guarantee No. MPN/RCK/CICON/182/03-04 dated 26/05/2003 for Rs 1,00,00,000, along with simple interest at 12% per annum from 17/06/2004 until full payment; the company anticipates realizing a substantial amount in accrued interest over the past 23 years, which will strengthen its financial position and enable larger expansion and repowering projects, contributing to increased turnover and profitability, with no adverse operational impact.