The Financial creditor i.e Union Bank of India, SAM Branch, Hyderabad has filed an application against Gayatri Highways’ Material Subsidiary -- Indore Dewas Tollways (IDTL) under section 7 of The Insolvency and Bankruptcy Code, 2016, read with the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 before the National Company Law Tribunal (NCLT), Hyderabad Bench for an amount of default of Rs 194,24,55,662.
Gayatri Highways is engaged in the business of Construction and Maintenance of Motorways, Streets, Roads, Other Vehicular and Pedestrian Ways, Highways, Bridges, Tunnels and Subways.
