On an application u/s 9 of IBC filed by Nexo Industries Pvt Ltd (Operational Creditor), the Hyderabad Bench of NCLT vide its Order dated 30.12.2021 initiated CIRP against Tata Projects Limited having its Registered Office at Telangana.
The debt amount involved is Rs. 44,20,909.
Tata Projects is one of the fastest-growing and most admired industrial infrastructure companies in India. It has expertise in executing large and complex urban and industrial infrastructure projects. Over the years, Tata Projects has grown from a turnover of INR 34,440 million in FY 2015 to INR 1,05,140 million in FY 2020. (Source: https://www.tataprojects.com/)
Borrowings of Tata Projects include Rs. 15076,00,00,000 from SBICAP Trustee Company Limited and 42,30,00,000 from ICICI Bank Limited. (Source: https://www.mca.gov.in/)
Adv. Damodar Mundra along with Adv. Mayur Mundra appeared on behalf of the Operational Creditor and Sr. Adv. S. Ravi along with Adv. Shireen Baria represented on behalf of Tata Projects Limited.
