"The Group, a public limited company in the United Kingdom with a net worth of over 180 million pounds, will provide substantial backing for projects in Gujarat, Mumbai and Bengaluru, as well as setting up advisory operations for insolvency and asset reconstruction-related services," read a company statement here.
The Group's chairman, Himmz Modha, is a Gujarat-born UK resident and a first generation entrepreneur and angel investor.
Varakas has a presence in many countries, most notably in the US, the United Arab Emirates, Hong Kong, Switzerland and India.