Delhi Based Businessman Takes Over The Steel Company- KRISHNASAA FABS PVT LTD

Delhi Based Businessman Takes Over The Steel Company- KRISHNASAA FABS PVT LTD
Tuesday, March 20, 2018

Krishnasaa Fabs Private Limited, a famous AP (Tirupati) based Steel company taken over by Delhi's famous Businessman Sh. Girish Kumar in March 2018.

DELHI, DELHI, INDIA, 03/20/2018 / /

The Delhi based businessman Sh. Girish Kumar has taken over the full charge of Tirupati based famous company-Krishnasaa Fabs Private limited including its whole equity with all movable and immovable assets.

The previous Directors / Promoters Sh. N. Doraswamy and Mrs. Anitha Doraswamy were in default in several payments of Government / Banks / Private parties.

But the Delhi based businessman has purchased the whole business of the company including all the assets and by setting off all the debts of the company in a phased manner. As per reports, the total deal between the parties was settled for more than 45 crores INR. The Tirupati (AP) based company has a good name and frame in Steel industry and was serving several big players of the market. But due to family disputes, it was declared as sick. Now the Delhi based promoters are planning to establish Agro-food warehouse plants on the property of the company. The New Delhi based promoter is under process with the local authorities to get permissions for the projected warehouse business for Agro-foods. In a personal interview, he said that in Andhra Pradesh, there is too much potential to grow the business of warehouse and Agro-industry.

The new promoters are planning to set up warehouses, cold storages for its agro-products in this company. For this purpose, the company has already started the process of taking permissions from the concerned local government bodies and tax authorities. The company with new promoters will also store its imported agro-products of Rice, Beans, Wheat, Chana etc in these godowns. The nearest Tirupati Airport and Chennai port will also help the company in its import and export business of Agro Products.

The new promoters are also planning to invest more INR 50 crores in the company to establish warehouse on the company's land.


Release ID: 11268