NCLT Admits KSK Wind Energy Mothalli Haveri to CIRP on ₹1.85 Crore Debt; Income-Tax Dues Form Bulk
The National Company Law Tribunal's Hyderabad Bench has admitted KSK Wind Energy Mothalli Haveri Private Limited into the Corporate Insolvency Resolution Process under Section 10 of the Insolvency and Bankruptcy Code, 2016. In an order dated September 4, 2026, the Tribunal accepted the company's own application after recording that it had become unable to meet its liabilities and had remained non-operational since financial year 2021-22.
The order is notable for the composition of the debt disclosed before NCLT. The company reported total outstanding debt of ₹1,85,27,088 as at November 30, 2025, while stating that it had nil realisable assets. Of the total debt, the overwhelming portion related to income-tax dues, with a smaller financial debt arising from a 2025 unsecured loan.
Company background and financial position
KSK Wind Energy Mothalli Haveri was incorporated on December 29, 2010 and was set up for business connected with non-conventional electricity and private power projects. The NCLT order records a nominal share capital of ₹2.60 crore and paid-up capital of ₹2,55,44,950. It also records that the company was a step-down subsidiary in the KSK group through KSK Electricity Finance, while KSK Energy Ventures had earlier been sold as a going concern in liquidation pursuant to an April 28, 2021 order.
The company told the Tribunal that it had been non-operational since FY 2021-22. The financial information reproduced in the order shows a profit of ₹18,844.64 lakh in FY 2020-21, followed by losses of ₹14,381.63 lakh in FY 2021-22, ₹1,911.13 lakh in FY 2022-23, ₹50 lakh in FY 2023-24 and ₹59 lakh in FY 2024-25.
Income-tax dues form the bulk of admitted financial stress
The application identified operational debt to the Income Tax Department of ₹1,79,95,198 as at November 30, 2025. The order links this amount to a consequential order dated April 12, 2022 and a penalty order dated October 26, 2022 under Section 271(1)(c) of the Income-tax Act.
The financial debt recorded by the Tribunal arose from ₹5 lakh released on June 19, 2025 by INR Engineering & Infra Projects under a memorandum of understanding. According to the order, a capability assessment completed on July 15, 2025 concluded that the company was not eligible for the contemplated power-project tenders, after which the amount was treated as an unsecured loan. The arrangement carried interest at 24% on default. A demand was issued on August 18, 2025, and the amount stated as due as at November 30, 2025 was ₹5,31,890.
Board and shareholders had approved the insolvency filing
The board resolved on September 8, 2025 to initiate CIRP after the company said no credible investor interest had emerged. Shareholders subsequently approved the step by special resolution on November 20, 2025. Those corporate approvals are relevant because a Section 10 filing is initiated by the corporate applicant itself rather than by a financial or operational creditor.
NCLT orders moratorium and appoints IRP
After admitting the petition, NCLT declared the statutory moratorium under Section 14 of the IBC. The Tribunal appointed Sivaram Reddy Rajula, registration number IBBI/IPA-002/IP-N00477/2017-2018/11407, as Interim Resolution Professional.
The order directs the IRP to make the public announcement within three days and proceed with constitution of the committee of creditors in accordance with the Code. Management of the corporate debtor will vest in the IRP during the process. The corporate applicant was also directed to deposit an advance towards CIRP costs within one week, while the Registry was directed to communicate the order within seven days.
What professionals should watch next
For insolvency professionals, tax advisers and finance teams, the case is a useful reminder that statutory tax liabilities can dominate the liability profile of a dormant or non-operational entity entering CIRP. The admission order does not determine the final recoverability of every claim. Claims will still move through the CIRP framework, including submission, verification and treatment in any resolution process in accordance with the IBC.
The IBBI-hosted NCLT order contains the detailed factual record, debt figures and operative directions.
Takeaway
KSK Wind Energy Mothalli Haveri is now under CIRP with a Section 14 moratorium in force and an IRP appointed. The immediate professional focus shifts from the company's pre-admission financial stress to claims collation, creditor constitution, preservation of records and the next statutory steps under the insolvency process.
Official source: View the official source document
Key takeaway
NCLT Hyderabad has admitted KSK Wind Energy Mothalli Haveri Private Limited to CIRP under Section 10, recording ₹1.85 crore total debt, nil realisable assets and ₹1.80 crore of income-tax dues.
