Adani, JSW, Jindal express interest in auction of Karaikal Port
PORTS & SHIPPING

Adani, JSW, Jindal express interest in auction of Karaikal Port

Vedanta, Adani Ports and Special Economic Zone, JSW Infrastructure, Jindal Power, and a joint venture between RKG Fund and Sagacious Capital, have submitted expressions of interest to take part in the upcoming auction of Karaikal Port, which is undergoing insolvency proceedings at the National Company Law Tribunal (NCLT).

Following a request submitted by one of its financial creditors, Omkara Asset Reconstruction Company, the NCLT's Chennai court admitted Karaikal Port for insolvency proceedings via a judgement dated April 29. Rajesh Sheth was subsequently chosen by the NCLT to serve as the business' resolution specialist. He has Deloitte's support.

Vedanta, Adani Ports and Special Economic Zone, JSW Infrastructure, Jindal Power, and a joint venture between RKG Fund and Sagacious Capital, have submitted expressions of interest to take part in the upcoming auction of Karaikal Port, which is undergoing insolvency proceedings at the National Company Law Tribunal (NCLT). Following a request submitted by one of its financial creditors, Omkara Asset Reconstruction Company, the NCLT's Chennai court admitted Karaikal Port for insolvency proceedings via a judgement dated April 29. Rajesh Sheth was subsequently chosen by the NCLT to serve as the business' resolution specialist. He has Deloitte's support.

Next Story
Technology

We’re building robots that flow, not just move

Founded in 2021, Flo Mobility is reimagining construction automation with vision-AI robots designed for seamless movement through complex sites. In conversation with CW, Manesh Jain, Founder & CEO, discusses the company’s origin, its LiDAR-free tech stack, and expansion plans in the Middle East and US.What inspired the name Flo Mobility? Why ‘Flo’ and not ‘Flow’?When we started the company in 2021, our focus was on building autonomous navigation systems for robots. Since our work centred around robot movement, ‘mobility’ naturally became part of the name. We wanted to co..

Next Story
Real Estate

We’re committed to setting benchmarks in sustainable luxury living

From a landmark land acquisition in Boisar to ambitious launches across the Mumbai Metropolitan Region (MMR), National Capital Region (NCR), Bengaluru and Pune, Birla Estates is driving future-ready growth with a strong focus on sustainability, partnerships and premium living, firmly anchored in its LifeDesigned® philosophy. K T Jithendran, Managing Director & CEO, outlines the company’s premium, sustainable growth playbook in conversation with PRATAP PADODE, Editor-in-Chief, CW. Excerpts:Birla Estates recently acquired a 70.92-acre land parcel in Boisar, Maharashtra, for..

Next Story
Infrastructure Urban

Mumbai’s land crunch and ageing homes call for structured renewal

Founded in 2022, Etonhurst Capital Partners is a real-estate fund management platform focused on the Indian market. As the firm achieves the first close of Rs 1.8 billion for its debut Rs 5 billion fund, Bamasish Paul, Co-founder, Managing Partner & CEO, discusses its sharp focus on redevelopment-driven value creation in Mumbai’s urban core with CW. Excerpts:Etonhurst Capital has achieved a significant milestone with the first close of Rs 1.8 billion for its Rs 5 billion fund. What factors contributed to this early success and how do you plan to attract further investments to r..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?