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TVS Supply Chain Solutions on Thursday announced its entry into the aerospace and defence supply chain market with the formation of a 51:49 joint venture with the Italy-based ALA Group. The collaboration is expected to generate a cumulative revenue of over Rs 2,000 crore by 2031, the company said. The JV will initially focus on opportunities in India, while TVS SCS and ALA will continue to evaluate opportunities to support aerospace and defence supply-chain requirements across select international markets over time, said a company statement. The joint venture, aimed at addressing opportunities in the domestic aerospace and defence sector, will specialise in end-to-end integrated supply chain solutions, including sourcing and supply of aerospace and defence components, kitting and sub-assembly operations, as well as consolidation, imports, warehousing and delivery, the company added. India's defence logistics market is expected to grow at a CAGR of around 8.6 per cent, according to
TVS Supply Chain Solutions has settled its debt dispute with ZTE Telecom India and withdrawn its appeal in NCLAT against an order that rejected insolvency proceedings against the telecom gear manufacturer. Earlier this week, TVS Supply Chain counsel informed the National Company Law Appellate Tribunal (NCLAT) about the settlement and requested withdrawal of the appeal. A two-member NCLAT bench comprising Chairperson Justice Ashok Bhushan and Member (Technical) Barun Mitra allowed the withdrawal for the plea. "Counsel for the appellant (TVS) submits that the matter has been settled between the parties and he may be permitted to withdraw this appeal. Permission is granted," said NCLAT. In October last year, a Chandigarh-based bench of the National Company Law Tribunal (NCLT) had dismissed the insolvency plea filed by TVS Supply Chain after observing a pre-existing dispute between the parties. NCLT in its order had said that the debt claimed by TVS Supply Chain was disputed and unde
TVS Infrastructure Trust, an Infrastructure Investment Trust (InvIT) sponsored by TVS Industrial & Logistics Parks (TVS ILP), on Monday said that it has raised Rs 830 crore under tranche-1 of its Rs 1,100 crore Non-Convertible Debenture (NCD) programme. The company, in a statement, said the funds were raised through a 20-year, long-tenor bond issuance, anchored by the National Bank for Financing Infrastructure and Development (NaBFID). "This long-tenor bond issuance, extending up to the year 2046, is among the first of its kind in India's industrial infrastructure space," Ravi Swaminathan, Founder and Vice Chairman, TVS ILP, said. Samuel Joseph Jebaraj, Deputy Managing Director Lending & Project Finance, NaBFID, said, "This investment is aligned with NaBFID's mandate to support institutionally governed infrastructure platforms that contribute meaningfully to India's sustainable economic development." The bonds are rated AAA by ICRA. TVS ILP is backed by a broad, diversified ..
The NCLT has dismissed an insolvency plea against the Indian unit of telecom gear manufacturer ZTE filed by TVS Supply Chain Solutions after observing a pre-existing dispute between the parties. A Chandigarh-based bench of the National Company Law Tribunal (NCLT), the debt claimed by TVS Supply Chain Solutions was disputed and under reconciliation dating back to 2017, well before the statutory demand notice. "In view of these facts, we hold that this being a case of preexisting dispute, the Application under Section 9 is not at all maintainable," said the NCLT bench, comprising members Kaushalendra Kumar Singh and Khetrabasi Biswal. TVS Supply Chain Solutions, earlier known as TVS Logistics Services, had moved the insolvency tribunal claiming a default of Rs 4.27 crore from ZTE Telecom India by filing a plea under section 9 of the Insolvency & Bankruptcy Code. The dispute is for the period June 2012 to February 2019. ZTE, a telecom equipment supplier for companies like Reliance, ..