+
Crane maker Tractors India dragged to NCLT
ECONOMY & POLICY

Crane maker Tractors India dragged to NCLT

Following the failure of earlier attempts at debt recovery, Bank of India has filed for insolvency against Kolkata-based commercial equipment maker TIL (Tractors India) in order to recoup its obligations.

Five banks, including BoI, have a combined amount of 6000 million in receivables from the company that banks have labelled as a non-performing asset. "The NCLT has the matter on file pending admission. Given that the company is in financial trouble and a settlement is improbable, there was no other option "a person who is knowledgeable of the process said.

Following the failure of earlier attempts at debt recovery, Bank of India has filed for insolvency against Kolkata-based commercial equipment maker TIL (Tractors India) in order to recoup its obligations. Five banks, including BoI, have a combined amount of 6000 million in receivables from the company that banks have labelled as a non-performing asset. The NCLT has the matter on file pending admission. Given that the company is in financial trouble and a settlement is improbable, there was no other option a person who is knowledgeable of the process said.

Next Story
Technology

Six ways a smarter workflow leads to faster, more accurate bids

In today’s fast-paced civil construction environment, estimators need more than just solid numbers. They need smart, streamlined processes. This article explores six key ways connected workflows can transform the estimated approach, help in minimising risk, move faster, and improve accuracy. By integrating tools, data, and teams, one can produce stronger bids with less rework, fewer surprises, and more confidence. As an estimator, the job goes beyond producing numbers. They are responsible for delivering bids that are fast, accurate, and built to win. In today’s civil construction ind..

Next Story
Real Estate

Experion Launches Women-Only Co-Living Project in Greater Noida

Experion, part of Singapore-based AT Capital Group, has launched its first co-living space under its managed rental housing brand, VLIV, in Greater Noida. The all-women residence features 730 twin-sharing beds with a strong focus on safety, comfort, and well-being. VLIV has committed a $300 million investment to create a structured, service-led rental housing ecosystem in India. The brand aims to scale up to 20,000 beds in the next few years, with a long-term target of 100,000 beds nationwide. “India’s rental housing is fragmented. VLIV is our way of building long-term, dependabl..

Next Story
Infrastructure Urban

Officine Maccaferri Acquires CPT to Bolster Tunnelling Tech

Ambienta’s platform company, Officine Maccaferri S.p.A., has acquired CPT Group, a leading Italian developer of robotic prefabrication systems and digital control technologies for mechanised tunnelling. The move positions Maccaferri as a global player in integrated tunnelling solutions, blending traditional and advanced mechanised systems. Based in Nova Milanese, CPT serves major global contractors across Europe, Southeast Asia, and Australia. The company offers robotic prefabrication (Robofactory), productivity-monitoring software for Tunnel Boring Machines (TBMs), and eco-designed spa..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?