On dated 01/03/2018, the Delhi based businessman Sh. Girish Kumar has taken over the full charge of Tirupati based famous company – Krishna 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 since long. But the Delhi based businessman has purchased the whole business including all assets of the company and by setting off all the debts of the company in a phased manner.
As per reports the total deal was settled between the parties 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 its was declared as sick and closed in later 2009.
Now the Delhi based promoters are planning to establish Agro food warehouse plant on the property of the company by closing existing steel plant. The new Delhi based promoter is under process with the local authorities at Andhra Pradesh to get permissions for the projected business of Agro-foods business. In a personal interview, he said that in Andhra Pradesh, there is too much potential to grow the business of Agro industry.
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