Kandla Port Trust (KPT) has secured the Kandla Container Terminal's (KCTPL) Rs 110 crore debt lent by Axis Bank and UCO Bank. The takeover has been done in the proceedings before the Gujarat High Court.
Kandla Container Terminal is a subsidiary of ABG Infralogistics.
The KPT terminal takeover includes the licensee assets (all assets of KCTPL). Axis Bank and UCO Bank have been restrained from taking any coercive action against KCTPL.