The National Company Law Appellate Tribunal (NCLAT) has set aside an insolvency resolution process against property developer DB Realty, renamed as Valor Estate, after the company and its lender Bank of India reached a...
NCLT orders insolvency proceedings against Fosun’s affiliate realty company
The National Company Law Tribunal (NCLT) has ordered initiation of corporate insolvency resolution process against real estate special purpose vehicle (SPV) Sankalp Siddhi Developers. The SPV was promoted by Ahuja Hive...
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...
DB Realty to acquire stakes in 3 hotels for more than Rs 2,300 cr
Mumbai-based D B Realty Ltd on Monday said it will acquire shares in Bamboo Hotel Global Centre, Goan Hotels & Realty and BD And P Hotels for more than Rs 2,300 crore. These deals fall into related party...
Oberoi Realty inks pact to acquire NRB Bearings’ 6.4-acre land in Thane
Property developer Oberoi Realty has entered into an agreement with NRB Bearings to acquire the latter’s around 6.4 acre land parcel in Thane’s Pokhran Road 2 along with structures thereon. The company...
LTI Mindtree, LTTS consolidate realty assets
Technology firms LTI Mindtree and L&T Technology Services (LTTS) are consolidating their real estate portfolio across Chennai amidst cost-cutting and hybrid work models implemented across sectors. LTI Mindtree has...
KGK Realty takeover of Anudan Properties gets NCLT approval
India’s bankruptcy court has allowed the acquisition of Anudan Properties by Mumbai-based developer KGK Realty (India). The Committee of Creditors (CoC) approved KGK Realty’s resolution plan with 76.35%...
ArisUnitern acquires significant stake in Kaleido Realty
ArisUnitern, a real estate services firm providing end-to-end consulting services, has acquired a significant stake in Kaleido Realty, that helps real estate companies with sales and marketing launchpads. The stake was...
Bankruptcy resolution rate of realty companies among the poorest, says new study
Just about 5% of cases under the Insolvency & Bankruptcy Code (IBC) involve real estate, and the sector has one of the lowest resolution rates but also highest claim realisations, according to a joint analysis by...
Emami promoters eye sale of realty, hospital assets
The promoters of Emami Ltd expect to reduce their pledged shares in the company to 10-15% of their holding by selling the group’s hospital business and real-estate owned by the promoters and few group companies...
Sebi invites bid for sale of properties of Mega Mould, Remac Realty
Market regulator Sebi has invited bids for the sale of properties of Mega Mould India and Remac Realty India and their promoters as part of their recovery proceedings through the e-auction platform. The bidders are...
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...