Orix Corporation, styled as ORIX, is a financial services group headquartered in Minato, Tokyo, and Osaka, Japan. Orix is a member of the Mitsubishi UFJ Financial Group keiretsu.
In a major development in the resolution of the crisis-hit IL&FS and its group entities, IL&FS on Thursday said that it has completed the sale of its wind energy assets to Orix Corporation of Japan for Rs 4,900 crore, helping the debt ridden company to resolve its debt of over Rs 4,300 crore.
Crisis-ridden IL&FS has filed a proposal to the National Company law Tribunal (NCLT) to complete the sale of its arm IL&FS Wind Energy Ltd (IWEL) to ORIX Corporation of Japan.
Crisis-ridden IL&FS on Wednesday said that its new board, headed by Uday Kotak, has taken key steps in resolving the over Rs 20,000 crore debt, which has resulted in "significant interim" outcome in the overall resolution process for the IL&FS Group.
Crisis-ridden IL&FS on Monday said it has received approval from Justice (retd) D.K. Jain on the proposed sale of wind energy subsidiaries, held under IL&FS Wind Energy Ltd (IWEL), to ORIX Corporation of Japan.