In a jolt to the Jaypee Group, the Supreme Court on Wednesday directed completion of the corporate insolvency resolution process for Jaypee Infratech Ltd (JIL) within 90 days and said the revised resolution plans will...
Indiabulls Real Estate sells London property to promoters for ₹1,830 cr
Indiabulls Real Estate Ltd (IREL) on Saturday said it has sold its property in London to a promoter group firm for 200 million pounds (about ₹1,830 crore) as part of its plan to focus on the India business and cut debt...
Yes Bank to take over Sumer’s land in Radius JV
Yes Bank is set to take control of real estate developer Sumer Group’s 50 per cent share in two land parcels totalling 6.4 acres held by its joint venture company in Mumbai’s Santacruz locality for non-payment of dues...
Mantri creditor Aayas Trade moves NCLT against realtor
A creditor of beleaguered city-based realtor Mantri has approached the National Company Law Tribunal (NCLT) to start insolvency proceedings against the developer for its failure to develop a housing and commercial...
AECOM nears $2.4 billion sale of management services unit: Bloomberg
U.S. construction and engineering firm AECOM is nearing a $2.4 billion deal to sell its management services unit to a consortium of private equity firms, Bloomberg reported on Sunday. The deal to sell the unit to the...
DLF settles Rs 8,700 cr amount payable to JV with GIC
Realty major DLF has settled the entire Rs 8,700 crore amount payable to DLF Cyber City Developers Ltd (DCCDL), its joint venture with Singapore-based GIC, by transferring various completed commercial properties and...
Adani gets more time to buy Bidvest’s stake in MIAL
The deadline for Adani Properties to acquire Bidvest’s stake in GVK-controlled Mumbai International Airport has been extended to November 7, lawyers of the Gautam Adani promoted company told the Bombay HC. In April...
Jaypee Infratech undergoing insolvency but ‘in good health’: Manoj Gaur at AGM
Embattled Jaypee Group chairman Manoj Gaur on Thursday said realty arm Jaypee Infratech is undergoing insolvency but “is in good health” and has posted a growth in revenue in 2018-19. Company officials said...
Blackstone to soon take full control of IBREL office assets
Indiabulls Real Estate Ltd (IBREL) said it has sold its remaining stake in some of its office assets in Gurugram and central Mumbai to Blackstone Group Lp for around ₹2,717 crore, paving the way for the New York-based...
Fosun invests 800 crore in realty venture with Ahuja Constructions
In its first realty transaction in India, Chinese investment conglomerate Fosun Group has acquired majority stake in a property development platform it has formed with realty developer Ahuja Constructions for 800 crore...
Blackstone set to buy rest of Indiabulls’ commercial assets
Blackstone Group has signed a term sheet to acquire the remaining 50% stake in Indiabulls Real Estate’s commercial properties for over Rs 4,420 crore, said persons with direct knowledge of the development. Blackstone...
NCLAT quashes insolvency proceedings against Bharat Road Network
The NCLAT has set aside insolvency proceedings initiated against Bharat Road Network Ltd, and directed the NCLT-Kolkata bench to close the matter. A three-member NCLAT bench headed by Chairman Justice SJ Mukhopadhaya...
