The bankruptcy proceedings were initiated by construction company Techno Electric and Engineering Company in 2019 over a default on interest payments towards a Rs 100-crore loan, according to a court order reviewed by ET.
McLeod Russel has been pruning down gardens to help lower its debt and enhance investments in some of its existing gardens as well as channelizing it towards the packet tea business
Larsen & Toubro (L&T), India s top construction conglomerate with a major presence in the Middle East region, has won approval from the company board for the amalgamation of its wholly-owned unit, L&T Hydrocarbon Engineering, with the parent firm.