The National Company Law Appellate Tribunal (NCLAT) has stayed formation of Committee of Creditors (COC) to overtake Supertech Ltd, against whom the Delhi bench of the National Company Law Tribunal had ordered...
NCLT initiates insolvency proceedings against a group company of realty developer ATS
The Delhi bench of the National Company Law Tribunal has initiated bankruptcy proceedings against Anand Divine Developers Pvt Ltd, a group company of realty developer ATS over dues of Rs 25 crore. According to the NCLT...
Real estate developer Supertech declared insolvent by NCLT
The Delhi bench of the National Company Law Tribunal on Friday ordered bankruptcy proceedings against realty developer Supertech for default on payment of Rs 431 crore to a consortium of banks. The NCLT appointed Hitesh...
ICICI Bank to acquire 5% stake in NARCL
ICICI Bank on Friday announced that the private lender has signed an agreement on March 10, 2022 for investment in National Asset Reconstruction Company Limited (NARCL). NARCL is an asset reconstruction company, which...
Adani Properties leads race to buy HDIL
Adani Properties is a frontrunner among eight resolution applicants for bankrupt real estate developer Housing Development Infrastructure (HDIL), two people aware of the development said. The other applicants include...
NCLT allows withdrawal of insolvency proceedings against Nirmal Lifestyle
The National Company Law Tribunal (NCLT) has allowed withdrawal of insolvency proceedings against real estate development firm Nirmal Lifestyle and has also lifted a moratorium on the company. Nirmal Lifestyle has...
Aurum PropTech to acquire 53% stake in co-living platform Grexter Housing Solutions
Aurum PropTech, formerly known as Majesco, has approved acquisition of 53% equity stake in Bangalore-based co-living company Grexter Housing Solutions for Rs 27 crore. Grexter Living will be utilising this growth...
KKR drags Mantri Developers to NCLT over ₹145-crore dues
KKR has dragged Bengaluru-based Mantri Developers to the National Company Law Tribunal (NCLT) over a ₹145 crore credit facility that it had granted the company five years ago, according to people aware of the matter...
Chinese developer Shimao shares rise nearly 5% after more asset disposals
Shares of cash-strapped Shimao Group rose on Monday after the Chinese developer and its chairman sold a Shanghai hotel and a stake in a Hong Kong development, respectively, for a total of $836 million, in their latest...
Cash-strapped Chinese developer Shimao sells stake in asset to state-owned partner
Chinese property developer Shimao Group joined smaller peer Agile Group to sell its stake in a Guangzhou complex to state-owned partner China Overseas Land & Investment (COLI) in a push to reduce its debt. Shimao...
Suraksha group expects NCLT nod by March to acquire Jaypee Infra; gearing up to start construction
Mumbai-based Suraksha group on Sunday said the company expects to get the approval of the NCLT by March to acquire Jaypee Infratech Ltd (JIL) through insolvency process and complete around 20,000 flats for homebuyers...
Chinese developer Shimao sells unit in a bid to reduce debt
Chinese real estate company Shimao Group Holdings on Friday announced the sale of its unit to a state-owned entity in order to reduce its debt. Shimao’s unit, Shanghai Shiying Investment Management Company, sold...
