The managing director (MD) of New Tirupur Area Development Corporation Ltd (NTADCL) is understood to have filed a complaint with the registrar of companies (RoC) at Coimbatore, seeking a directive to prevent nominee directors of Infrastructure Leasing & Financial Services (IL&FS) – its parent company – from voting on resolutions of NTADCL, where they have a conflict of interest.
On 11th July, Mauritius-based AIDQUA Holdings, which has a 27.89% stake in New Tirupur Area Development Corporation (NTADCL), filed an intervention petition before the National Company Law Appellate Tribunal (NCLAT)