News

Real Estate

Vedanta Emerges as Top Bidder for Jaiprakash Associates with Rs 12,505 Crore Offer

Vedanta Ltd has been identified as the highest bidder for debt-ridden Jaiprakash Associates Ltd (JAL), offering a net present value of Rs 12,505 crore. The payment will be staggered, with Rs 4,000 crore paid post-NCLT approval and the balance over 5-6 years. This acquisition complements Vedanta's existing businesses and leverages JAL's assets in power, real estate, and mining.

real estate news

Vedanta Wins Jaiprakash Associates Bid with ₹12,505 Crore NPV Offer

Vedanta Ltd has emerged as the highest bidder for Jaiprakash Associates Ltd (JAL) with a ₹12,505 crore NPV offer, beating Adani Group. The payment will be made in a staggered manner over 5-6 years, with an initial ₹4,000 crore payment post-NCLT approval.

real estate news

Vedanta Secures Jaiprakash Associates with Rs 4000 Crore Upfront Payment

Vedanta Ltd has emerged as the highest bidder for the debt-ridden Jaiprakash Associates Ltd (JAIL), offering a net present value of Rs 12,505 crore. The payment will be staggered, with Rs 4,000 crore paid post-NCLT approval and the rest over 5-6 years. This acquisition complements Vedanta's existing businesses in power, real estate, and mining.

real estate news

Vedanta Secures Bid for Jaiprakash Associates with Rs 4,000 Crore Upfront Payment

Vedanta Ltd has emerged as the winning bidder for Jaiprakash Associates Ltd (JAL) with an initial payment of Rs 4,000 crore and the balance to be paid over the next 5-6 years, beating Adani Group in the auction.

Real Estate

Strengthening Homebuyers' Rights: Recent Reforms in Real Estate CIRP

The Indian Real Estate sector has experienced unprecedented growth over the past two decades, but it has also exposed deep structural vulnerabilities, particularly when developers default. Recent reforms under the IBBI (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2025, aim to strengthen the position of homebuyers in corporate insolvency proceedings.

Real Estate

NCLT Initiates CIRP Against Mahagun for ₹260 Crore Debt - Insolvency Tracker

The National Company Law Tribunal (NCLT) has initiated the Corporate Insolvency Resolution Process (CIRP) against Mahagun (India) Private Limited due to an outstanding debt of ₹260 crore. IDBI Trusteeship Services Limited, acting as the debenture trustee, filed the application.

Real Estate Mumbai

NCLT Excludes Phoenix ARC from Hotel Horizon's CIRP

The National Company Law Tribunal (NCLT) has partially approved the promoters' application of Hotel Horizon, excluding Phoenix ARC's claim from the Corporate Insolvency Resolution Process (CIRP) due to a limitation period. The tribunal also directed a claim rework for JMFARC and the re-verification of Union Bank of India's claims.

real estate news

Rajani Associates Supports Jayesh Sanghrajka in Darshan Developers' CIRP

Rajani Associates, a leading legal firm, has provided strategic guidance to Jayesh Sanghrajka, the Resolution Professional of Darshan Developers and 10 other consolidated corporate debtors, throughout their Corporate Insolvency Resolution Process (CIRP).

real estate news

Supreme Court Rejects Builder's Plea to Limit Insolvency Process to One Real Estate Project

The Supreme Court has dismissed a plea by a builder to limit the Corporate Insolvency Resolution Process (CIRP) of Spaze Towers Pvt. Ltd. to a single real estate project in Gurugram. The Court upheld the decision of the National Company Law Appellate Trib