Major Sydney residential developer Bathla Group has fallen into administration after months of mounting financial pressure.
Administrators from Teneo were appointed on Tuesday to its main corporate entity, Universal Property Group, as well as Raj & Jai Construction, a company linked to the Bathla Group, documents lodged with ASIC show.
Voluntary administration is when an independent administrator takes control of a company in financial trouble and assesses its future.
Creditors then generally decide whether the company can be restructured or should be wound up.
Bathla…