The National Company Law Tribunal (NCLT) has approved the settlement plan for the financial liabilities of listed construction firm Supreme Infrastructure India, paving the way for the resolution of debt worth ₹2,200...
Vedanta Group submits expression of interest to acquire Jaiprakash Associates through insolvency
Business conglomerate Vedanta Group has shown interest in acquiring Jaiprakash Associates Ltd (JAL) through an insolvency process, according to sources. Jaypee Group’s flagship firm JAL, which is into cement...
DLF buys 49.99 pc stake in DLF Urban from GIC arm for Rs 497 crore
Realty major DLF has acquired a nearly 50 per cent stake in its arm DLF Urban Private Limited for Rs 497 crore from Singapore’s Reco Greens. With this deal, DLF will have a 100 per cent stake in DLF Urban, which...
Competition Commission of India dismisses allegations of anti-competitive practices against GMR Airports
Fair trade regulator CCI has dismissed allegations of anti-competitive practices against GMR Airports and Delhi Airport with respect to the awarding of certain contracts. The Indira Gandhi International Airport (IGIA)...
Oberoi Realty to sell 21.74% in JV I-Ven Realty to Alpha Wave for Rs 1,250 crore
Realty developer Oberoi Realty has entered into agreement with global investment firm Alpha Wave Ventures II, LP to sell 21.74% stake in its joint venture company, I-Ven Realty for Rs 1,250 crore. This marks one of the...
Brookfield Corp sells 5.13 pc unit holding in BIRET for Rs 883 crore
US-based Brookfield Corp on Tuesday divested a 5.13 per cent unit holding in Brookfield India Real Estate Trust (BIRET) for Rs 883 crore through open market transactions. According to the bulk deal data on the BSE...
Blackstone to acquire up to 66% stake in Kolte Patil Developers
Kolte Patil Developers (KPDL) has forged a transformative strategic partnership with global investment giant Blackstone. This partnership is a pivotal milestone in KPDL’s growth trajectory, positioning the company...
NCLT okays Leo Meridian Infrastructure Projects’ acquisition by Jalavihar Entertainment Consortium
The Hyderabad bench of the National Company Law Tribunal (NCLT) approved the Jalavihar Entertainment Pvt Ltd (JEPL)-led consortium’s acquisition of Leo Meridian Infrastructure Projects & Hotels Ltd. The defunct...
China Evergrande’s EV unit to sell 20% stake in Swedish firm for tax needs
China Evergrande Group’s electric vehicle (EV) unit said on Tuesday it agreed to sell its 20% stake in a Sweden-based real estate property lessor for 60 million krona ($5.63 million). The stake sale in AB...
SC stays NCLAT order directing NBCC to take over Supertech projects
The Supreme Court on Friday stayed the National Company Law Appellate Tribunal’s December order that directed NBCC (India) to take over and complete all the 16 projects of debt-ridden real estate firm Supertech...
Nexus Select Trust to acquire Ludhiana mall, hotel for Rs 490 crore
The board of directors of Nexus Select Mall Management, manager to listed Real Estate Investment Trust (REIT) Nexus Select Trust has approved the acquisition of an operational mall and a hotel in Ludhiana for an...
Valor Estate plans business realignment with non-core divestment, hospitality demerger
Realty developer Valor Estate is undertaking a realignment of its business portfolio by divesting non-core assets, hiving off its hospitality business, and improving capital allocation for high-priority projects...
