Admission of TATA Projects Limited
In terms of the Sanctioned Scheme, Tata Projects Limited (TPL), has been admitted as the Strategic Investor and Co-promoter of the Company. TPL has committed financial assistance of more than Rs. 28 Crore, of which it has already infused funds aggregating to about Rs. 23 Crore.
TPL has acquired 75% stake infusing a sum of Rs.2.77 Crore towards Equity contribution and by virtue of which AEL became a subsidiary of Tata Projects Limited on 4th January 2008.
TPL has also taken the Management Control of the Company and has inducted its representatives as Nominee Directors on the Board of the Company.
In addition to the support in the rehabilitation of the Company as per the Sanctioned Scheme, the Company is in a position to derive benefits from TPL on many grounds including professional management, project execution intellect, quality services, TPL’s strong presence in core sectors of the economy and good governance practices.