The National Company Law Appellate Tribunal (NCLAT) has dismissed a plea challenging NCLT’s order to initiate insolvency proceedings against Aditya Estates over the claims filed by ICICI Bank UK PLC. A three...
IVRCL up for sale, liquidator invites EoI from bidders
The liquidator of IVRCL Limited has invited expression of interest (EoI) from prospective bidders for sale of the city-based infrastructure company as a going concern and set Rs 1,654.47 crore as the reserve price, an...
IL&FS gets 19 bids for road assets
IL&FS today received binding bids for ten road assets in its domestic roads transportation vertical. These 10 road assets account for total debt of over Rs 17,700 crore nearly 19% of total group debt, received 14...
NCLT directs insolvency proceedings against realty firm Three C Projects
The National Company Law Tribunal (NCLT) has ordered start of insolvency proceedings against NCR-based realty firm Three C Projects Ltd and also appointed an Interim Resolution Professional (IRP) to take over the...
NCLT initiates insolvency plea against Raheja Developers
The NCLT has initiated insolvency proceedings against NCR-based real estate firm Raheja Developers after admitting a plea filed by one of its flat buyers. A two-member Principal bench, headed by President Justice M M...
NCLT admits Insolvency resolution plea against listed realty firm HDIL
A dedicated bankruptcy court has admitted an insolvency plea against listed realty developer Housing Development & Infrastructure (HDIL) after Bank of India sought recovery of its dues under provisions of the time...
Prestige Group looks to list commercial office portfolio
Prestige Group plans to tap the public market, through a real estate investment trust (REIT) of its commercial office portfolio after about a year, encouraged by the investor response to India’s first-ever REIT since...
CCI slaps Rs14 crore fine on Jaiprakash Associates
The Competition Commission of India (CCI) has imposed a penalty of nearly Rs14 crore on Jaiprakash Associates for abusing its dominant market position by imposing “unfair” and “discriminatory”...
SNC-Lavalin says court okays highway stake sale to CPPIB
Construction firm SNC-Lavalin Group Inc (SNC.TO) said on Wednesday a ruling by a Canadian court would allow it to proceed with the sale of its 10.01% stake in a Canadian toll highway to Canada Pension Plan Investment...
SC orders status quo for 2 weeks on Jaypee Group plea against NCLAT order
The Supreme Court on Friday ordered status quo for two weeks on Jaypee Group’s plea against NCLAT order which allowed fresh bidding for debt-laden Jaypee Infratech. A bench of justices A M Khanwilkar and Dinesh...
Xander acquires 1.1-million-sq-ft Pune office park $130 million
Xander Investment Management, the private equity real estate arm of global investment firm The Xander Group has acquired 100% interest in Weikfield IT Citi Info Park in Pune’s Viman Nagar for $130 million or Rs 900...
NCLAT extends Jaypee Infratech insolvency period by 90 days
In a boost to homebuyers and lenders of Jaypee Infratech, an appellate tribunal on Tuesday directed the appointed resolution professional (RP) to call fresh bids for resolution of the real estate developer. It also...
