Sangamam Power Projects to Retain 1200 Employees of Karvy Data Management Services Limited
Dec 27, 2024
Hyderabad (Telangana) [India], December 27: In a significant development, the National Company Law Tribunal (NCLT) has approved the resolution plan submitted by Sangamam Power Projects, a leader in sustainable energy solutions, to acquire Karvy Data Management Services Limited (KDMSL) and its subsidiaries. Karvy Innotech Limited (KITL) and Karvy Renewable Energy Projects Limited (KREPL). The order, delivered by a bench comprising Justice Dr Venkata Ramakrishna Badarinath Nandul and Shri Charan Singh, marks the conclusion of KDMSL's Corporate Insolvency Resolution Process, which began in September 2023.