The National Company Law Tribunal has admitted a petition filed by Edelweiss Asset Reconstruction Company to initiate a corporate insolvency resolution process (CIRP) against real estate company Neptune Ventures &...
NCLT adjourns claim pleas against Punj Lloyd
The National Company Law Tribunal (NCLT) adjourned the petitions filed by the Airports Authority of India and Gail India Limited against Punj Lloyd to August 23. Airports Authority of India said that the liquidator had...
Swedish property company SBB to sell remaining 51% of education unit
Swedish real estate company SBB said it has entered discussions to sell the company’s remaining 51% of EduCo, the education subsidiary of SBB, after having recently received interest from Brookfield Asset...
NCLT approves Ace Infracity resolution plan for 3C Homes
The NCLT has approved the resolution plan by Ace Infracity Developers for the debt-ridden 3C Homes. The NCLT bench observed the resolution plan submitted by Ace Infracity Developers has been approved by the Committee of...
KKR unit plans to buy road assets from PNC for $1 billion
KKR’s roads platform Highways Infrastructure Trust is in talks to acquire a portfolio of 12 road projects from Agra-based construction firm PNC Infratech for an enterprise value of about ₹9,000 crore (about $1.1...
GIC in talks to acquire warehousing assets from ESR for $400 million
Singapore’s sovereign wealth fund GIC is in talks with warehousing developer ESR group to pick up a 10 million square feet portfolio of warehousing space for an enterprise valuation of around $400 million...
Embassy Group plans to sell assets to cut debt by a third: Group chairman Jitu Virwani
Bengaluru-based real estate developer Embassy Group plans to sell some assets to bring down its total debt by one-third over the next two quarters, group chairman Jitu Virwani said, rejecting reports that put the...
Aurum PropTech set to buy Ratan Tata-backed NestAway
Proptech major Aurum PropTech is set to acquire Goldman Sachs, Tiger Global and Ratan Tata-backed managed rental home company NestAway Technologies through a complete buyout of all existing shareholders, said persons...
KKR Infra fund looks to buy majority stake in supply chain firm Leap India
Private equity firm KKR’s infrastructure fund has started exclusive talks to pick up over 51% stake in supply chain and warehousing asset pooling company Leap India, at an enterprise valuation of around ₹3,000...
Holcim acquires British precast materials maker Besblock
Holcim is buying Besblock Ltd, a British maker of precast building materials, the Swiss cement and concrete maker said on Wednesday. Besblock, which makes sustainable building blocks using recycled aggregates and 24%...
Oberoi Realty inks pact to acquire NRB Bearings’ 6.4-acre land in Thane
Property developer Oberoi Realty has entered into an agreement with NRB Bearings to acquire the latter’s around 6.4 acre land parcel in Thane’s Pokhran Road 2 along with structures thereon. The company...
Edelweiss-backed Sekura Roads to acquire Thrissur Expressway Ltd
Edelweiss-backed Sekura Roads is all set to acquire Thrissur Expressway Limited (TEL), the 28-km long road asset owned by KMC Constructions in a deal worth Rs 800 crore, said multiple people aware of the development. At...
