Rejecting a plea filed by the promoter of realty developer Satra Properties (India), the National Company Law Appellate Tribunal (NCLAT) has upheld the ruling of the National Company Law Tribunal’s Mumbai bench to...
Sanskar Projects and Housing dragged to NCLT over default
Delhi-based builder Sanskar Projects and Housing, promoted by Ravi Arora has been dragged to National Company Law Tribunal (NCLT) under Section 7 of Insolvency and Bankruptcy Code, over a default of over Rs 5 crore by...
Oaktree, Hines may buy GM Infinity’s Bengaluru property
Oaktree Capital and Hines are in advanced talks with Bengaluru-based builder GM Infinity for a forward purchase agreement to acquire its proposed commercial property in Bengaluru, said two people with direct knowledge...
China developer Evergrande gets bid for Hong Kong HQ from CK Asset
CK Asset Holdings, founded by billionaire Li Ka-Shing, said on Thursday it has submitted a bid for the Hong Kong headquarters of embattled Chinese developer Evergrande Group. Evergrande recently assigned real estate...
Ascendas in talks with L&T Realty to buy planned office assets
Singapore-based Ascendas India Trust is in advanced talks with L&T Realty for a forward purchase agreement to acquire its real estate development arm’s portfolio of proposed commercial properties, said two...
NCLT admits insolvency plea against Nirmal Lifestyle Kalyan
A bankruptcy court in Mumbai has admitted property developer Nirmal Lifestyle Kalyan Pvt Ltd under the Corporate Insolvency Resolution Process (CIRP) following a plea filed by Srei Equipment Finance Ltd. Kolkata-based...
NCLT dismisses Gateway Offshore’s insolvency plea against Pune-based Runwal Realtors
The dedicated bankruptcy court has dismissed a petition filed by Gateway Offshore against Pune-based realty developer Runwal Realtors to admit the company under the Corporate Insolvency Resolution Process (CIRP). The...
CPP Investments to buy Brookfield’s India roads portfolio in Rs 9.3k crore deal
Canada Pension Plan Investment Board (CPP Investments), the largest pension money manager in Canada, has agreed to buy a portfolio of Indian road assets from Brookfield in a deal valued at around Rs 9,300 crore ($1.2...
NCLAT limits Supertech’s insolvency to one project
The National Company Law Appellate Tribunal (NCLAT) has said that the Committee of Creditors (COC) will be limited to Eco Village project of the company and other projects will continue to be constructed by the...
Bankruptcy proceedings to begin against Radius promoter Chhabria
The bankruptcy court has ordered personal insolvency proceedings against Sanjay Chhabria, promoter of property company Radius Group. This is the first high-profile case to be admitted for personal insolvency since...
NCLAT orders fresh hearing in Radius Estate insolvency row, sets aside earlier order
The National Company Law Appellate Tribunal (NCLAT) has directed the Mumbai bench of bankruptcy courts to hear afresh the insolvency dispute involving realty developer Radius Group. Piramal Group, the biggest lender...
NCLT dismisses insolvency petition of Wave group, imposes Rs 1 crore penalty
The National Company Law Tribunal (NCLT) has dismissed the petition of Wave Mega City Center (WMCC) Private Limited had approached the tribunal under section 10 of the Insolvency and Bankruptcy Code to initiate the...
