real estate news
Vedanta's $2 Billion Bid for Jaiprakash Associates: A Credit Negative Move?
Vedanta's $2 billion bid for bankrupt infrastructure firm Jaiprakash Associates (JPA) is seen as credit negative by analysts at CreditSights due to JPA's heavy debt and declining earnings.
Real Estate
Vedanta Outbids Adani Group with ₹17,000 Cr Offer to Acquire Jaiprakash Associates
Vedanta Group has emerged victorious in the bid to acquire debt-ridden Jaiprakash Associates (JAL) for ₹17,000 crore, surpassing Adani Group. JAL, known for its interests in real estate, cement, power, hotels, and roads, entered insolvency proceedings after defaulting on loan payments.
Real Estate
Vedanta Emerges as Highest Bidder for Jaiprakash Associates in Major Insolvency Resolution
Vedanta Group has outbid Adani Group and others, securing Jaiprakash Associates Ltd (JAL) in a significant insolvency resolution. The deal, worth ₹12,510 crore, aims to resolve JAL's massive debt of ₹57,185 crore and offers Vedanta a diversified portfolio of assets.
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 Mumbai
Mordani Group and IIFL Finance: A High-Stakes Mumbai Real Estate Dispute
A significant dispute between Mumbai-based developer Mordani Group and IIFL Finance, co-founded by billionaire Nirmal Jain, has become public through a series of newspaper notices. The conflict centers around a December 2024 framework agreement and allegations of breach of contract.
real estate news
₹63 Crore Potential Fraud Uncovered in HNG Transactions: Auditor BDO India
Auditor BDO India has flagged ₹63.34 crore in potentially fraudulent transactions by Hindusthan National Glass & Industries Ltd (HNG) during 2019-20 to 2021-22. The transactions involve three entities and are under scrutiny as part of the company's insolvency resolution process.
Real Estate
The Decline of Golden Tobacco: From Cigarette Empire to Insolvency
India’s Securities and Exchange Board (SEBI) has issued a new order against Golden Tobacco Limited (GTL), exposing the diversion of Rs. 175.17 crore to related entities and leading to severe penalties for key officials.
Real Estate
Adani Group's Bid for Jaiprakash Associates Receives CCI Approval
The Competition Commission of India (CCI) has approved Adani Group's acquisition of debt-ridden Jaiprakash Associates, provided it wins the ongoing insolvency proceedings. The approval is a significant step in the resolution process.
real estate news
Adani Group's Bid for Debt-Ridden Jaiprakash Associates Receives CCI Approval
The Competition Commission of India (CCI) has approved Adani Group's proposal to acquire debt-ridden Jaiprakash Associates, provided they win the ongoing insolvency proceedings. This move could pave the way for a significant turnaround in the real estate and infrastructure sectors.
real estate news
Dhaval Vussonji & Associates Elevates Nibjiya and Gosar to Partnership
Dhaval Vussonji & Associates has promoted Bharati Nibjiya and Roopali Gosar to Partnership, recognizing their expertise in real estate transactions, legal advisory, and corporate matters.
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
IBC Reforms to Boost Real Estate Projects and Protect Homebuyers
The proposed revamp of the Insolvency and Bankruptcy Code (IBC) is expected to enhance the revival of real estate projects by discouraging litigation from dissenting creditors and offering more flexibility in asset disposal and quick deals with investors.
Real Estate Mumbai
IBC Reforms to Boost Revival of Distressed Real Estate Projects
The proposed amendments to the Insolvency and Bankruptcy Code (IBC) will enhance the revival of real estate projects by discouraging litigation from dissenting creditors, providing greater flexibility to dispose of assets, and offering more freedom to strike quick deals with potential investors.
Real Estate Maharashtra
NCLAT Upholds NCLT Order, Paves Way for Supertech Realtors' Insolvency Proceedings
The National Company Law Appellate Tribunal (NCLAT) has upheld the National Company Law Tribunal (NCLT) order, clearing the way for insolvency proceedings against Supertech Realtors, the developer of the Supernova project in Noida. The decision follows a petition filed by Bank of Maharashtra over a default claim.
real estate news
Brookfield Secures Additional Jet Airways Office Space in Mumbai’s BKC
Brookfield Asset Management, a global alternative investment firm, has acquired another floor in the Godrej BKC commercial tower in Mumbai, expanding its real estate holdings in the city’s business district.
Real Estate Mumbai
Brookfield Expands Mumbai Real Estate Portfolio with Jet Airways’ Office Property
Brookfield Asset Management has acquired an additional office floor in Godrej BKC, a prime commercial tower in Mumbai's Bandra-Kurla Complex, through the insolvency process of Jet Airways.
Real Estate
Jaypee Cement Assets Up for Bids in Major Insolvency Process
Debt-ridden Jaypee Cement Corporation Limited (JCCL) has initiated a corporate insolvency resolution process (CIRP), inviting bids for its 1.2 million-tonne cement capacity and associated assets. This move could significantly reshape India’s cement sector.
Real Estate
CCI Approves Dalmia Bharat's Bid to Acquire Jaiprakash Associates: A Major Milestone in JAL's Insolvency Process
The Competition Commission of India (CCI) has cleared Dalmia Bharat's proposal to fully acquire the debt-laden Jaiprakash Associates Ltd (JAL). This approval is a significant step in JAL's ongoing insolvency process, paving the way for Dalmia Cement (Bharat) Ltd to submit its resolution plan.
Real Estate
Jaiprakash Infratech to Challenge Rejected Bid for Jaiprakash Associates in Court
Jaiprakash Infratech Ltd, a leading real estate firm, is set to challenge in court the rejection of its bid to acquire Jaiprakash Associates Ltd (JAL), which could delay the ₹57,000 crore resolution process.
Real Estate Mumbai
Jaiprakash Infratech Challenges Bid Rejection: Legal Battle Looms
Jaiprakash Infratech is considering a legal challenge against the rejection of its bid to acquire Jaiprakash Associates, citing a lien over fixed deposits instead of a ₹100 crore deposit. This move could further delay the insolvency resolution process.