According to reports, the Company Law Board has denied relief to German wind-turbine maker Enercon and its Indian subsidiary, reports CNBC-TV18. Both the parties had sought CLB director to Registrar of Companies to change name of the companies after the partnership turned sour.
In March this year, Enercon had said it has just lost its entire Indian subsidiary, a major operation with annual sales of more than USD 566 million, after a dispute with a local partner and a run-in with Mumbai law enforcement authorities.
Enercon, the world’s fourth-biggest wind turbine maker by sales, also says it has lost control of its patents in India and fears its technology could be appropriated by competitors in a country where wind energy is a big and growing market.
The parties were seeking a name change based on consent terms.