IL&FS Initiates Legal Action Against Tirupur JV

24 Jan 2024 CW Team

IL&FS has escalated its legal dispute with a Tirupur-based joint venture, dragging the matter to court. The move follows ongoing conflicts between IL&FS and the joint venture, indicating a deepening rift in their business relationship.

The specifics of the dispute remain undisclosed, but IL&FS's decision to resort to legal action suggests an attempt to seek resolution through formal channels. Legal experts anticipate a complex case, and the court proceedings will likely shed light on the intricacies of the disagreements between IL&FS and its Tirupur joint venture partner.

The Tirupur joint venture, engaged in urban infrastructure projects, now faces the legal scrutiny initiated by IL&FS. This development raises questions about the future of their collaboration and the potential impact on ongoing and future projects. Stakeholders in the infrastructure sector will closely monitor the court proceedings for insights into the reasons behind the dispute and potential implications for the industry.

IL&FS, undergoing a restructuring process, has been navigating various challenges, and this legal move adds another layer of complexity to its endeavors. The outcome of the legal battle will not only influence the dynamics between IL&FS and its Tirupur partner but may also set precedents for how such disputes are handled within the infrastructure domain in India.

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..