The bankruptcy court in New Delhi has admitted the Serene Residency Group Housing Project at Sector ETA II after it defaulted on its dues of about ₹ 257 crore. The company is a subsidiary of listed real estate firm...
NCLT admits insolvency plea against Precision Realty Developers
The National Company Law Tribunal (NCLT) has admitted a petition filed by Phoenix Asset Reconstruction Company to initiate Corporate Insolvency Resolution Process (CIRP) against real estate company Precision Realty...
NCLT admits insolvency plea against Supertech ORB
Supertech ORB, which is constructing ultra-luxury high-rise residential apartments in the southeastern suburbs of Delhi-NCR, has been admitted for bankruptcy resolution, potentially delaying possession for homebuyers in...
Proptech firm Blox to buy controlling stake in Justo
The artificial intelligence-powered proptech company Blox is set to acquire a controlling stake in Justo, a mandate brokerage firm with deep presence across Maharashtra, at an enterprise value of ₹350 crore. The...
Centrum Capital explores sale of its stake in housing finance business
Centrum Capital, the financial services business led by Jaspal Bindra, is exploring a possible sale of its stake in its mortgage financing business – Centrum Housing Finance, two people aware of the development...
SBB sells 1.16% of education unit, receives $700 million as part of loan repayment
Swedish property group SBB divested 1.16% of its education subsidiary EduCo to Brookfield Super-Core Infrastructure Partners for around 242 million Swedish crowns ($21.73 million) as it looks to bolster its finances...
Carlisle rebuffs Kingspan Group’s proposal for tie-up, Bloomberg reports
Construction materials manufacturer Carlisle Companies has rebuffed Ireland-based Kingspan Group’s informal approach to combine the companies, Bloomberg News reported. Kingspan had proposed a deal in recent...
Mirae Asset arm acquires 11-acre pre-leased warehouse in Bhiwandi near Mumbai
The real estate market has historically been the asset class that created the most wealth for investors but the need for specialised investment know-how and large capital investment has restricted the asset class –...
Welspun Enterprises acquires 50.10% stake in Michigan Engineers for Rs 137 crore
Welspun Enterprises Limited (WEL), the infrastructure development arm of Welspun World, has acquired a 50.10% stake in Michigan Engineers Private Limited (MEPL), an EPC company in the urban water infrastructure segment...
China Evergrande seeks Chapter 15 protection in Manhattan bankruptcy court
China Evergrande, which is the world’s most heavily indebted property developer and became the poster child for China’s property crisis, on Thursday filed for protection from creditors in a U.S. bankruptcy...
China’s real estate giant Evergrande files for bankruptcy protection in US, seeks restructuring deal
China’s real estate giant Evergrande Group has filed for bankruptcy protection in the United States on Thursday. The company has sought protection under Chapter 15 of the US bankruptcy code, a measure that protects non...
Today, NCLT will hear ICICI Bank’s insolvency petition against Supertech Township Project
The National Company Law Tribunal (NCLT) is scheduled to address ICICI Bank’s insolvency petition against Supertech Township Project Limited on August 16. This decision follows the deferral of the hearing that had...
