Mahesh Girdhar is new MD and CEO of EverEnviro Resource
IL&FS sells environment biz to EverEnviro, reduces debt Rs 1.2k cr
Bankrupt firm Infrastructure Leasing and Financial Services (IL&FS) has sold 100% stake of its environment business—IL&FS Environmental Infrastructure and Services Ltd (IEISL), to EverEnviro Resource Management, a wholly-owned subsidiary of Green Growth Equity Fund (GGEF).
IL&FS, as the promoter of IEISL, held 97.54% of equity shares. IL&FS Employee Welfare Trust held the remaining 2.46% share. The entire shareholding in IEISL held by IL&FS Group has been transferred..
NCLAT Halts ATS Projects' Insolvency
The National Company Law Appellate Tribunal (NCLAT) has intervened to halt the insolvency process of ATS Projects, a significant development in the ongoing legal proceedings. This decision comes amidst the insolvency proceedings initiated against ATS Projects, which had faced financial challenges in recent times.
The NCLAT's decision to halt the insolvency process reflects a significant development in the legal proceedings concerning ATS Projects. This intervention underscores the complexity of the case and the need for careful consideration of all aspects before proceeding further with..
IL&FS Seeks MMRDA Approval for Mumbai HQ Transfer
IL&FS (Infrastructure Leasing & Financial Services) has initiated steps to secure fresh approval from the Mumbai Metropolitan Region Development Authority (MMRDA) for the transfer of its headquarters in Mumbai. This move signifies the company's commitment to streamline its operations and realign its corporate infrastructure.
The decision to seek renewed approval from MMRDA comes amid IL&FS's efforts to optimise its resources and enhance operational efficiency. The proposed transfer of its headquarters reflects IL&FS's strategic real estate management approach aimed at consolidating its ..