Kolkata: The Kolkata bench of National Company Law Tribunal (NCLT) ordered insolvency proceedings against Fort Projects (P) Ltd last week following a complaint from Emami Realty.
Fort Projects is part of Fort Group, one of the leading real estate firms in the city, while Emami Realty, the creditor, is part of Emami Group. Emami Realty also has big projects across the city.
Kannan Tiruvengadam has been appointed interim resolution professional for the Corporate Insolvency Resolution Process (CIRP) of Fort.
Incidentally, Fort Projects has 15-16 big projects in south Kolkata, including some signature projects like Fort Knox.
The application filed by Emami Realty Limited (financial creditor), under section 7 of the Insolvency & Bankruptcy Code…