Real Estate Mumbai
InCorp Restructuring Paves Way for India's Largest Slum Redevelopment via IBC Process
The National Company Law Tribunal (NCLT) has approved InCorp Restructuring Services LLP's resolution plan for the Darshan Group, enabling a significant slum rehabilitation project in Mumbai.
real estate news
Oberoi Realty Consortium Secures Letter of Intent for Hotel Horizon with Rs 919 Crore Resolution Plan
Oberoi Realty, in collaboration with Shree Naman Developers and JM Financial Properties and Holdings, has secured a Letter of Intent (LOI) for the acquisition of Hotel Horizon Private Limited (HHPL). The resolution plan, approved by the Committee of Creditors (CoC), involves a total payment of Rs 919 crore for full ownership.
Real Estate Mumbai
IL&FS Challenges Brookfield's Rs 1,080-Cr Bid for BKC Property in NCLT
IL&FS has filed a petition in the National Company Law Tribunal (NCLT) to scrap Brookfield's Rs 1,080-crore bid for the IL&FS Financial Centre in the Bandra Kurla Complex, citing non-compliance with bidding conditions.
Real Estate
NCLAT Upholds Eviction of Hotel Operator Following Resolution Plan Approval
The National Company Law Appellate Tribunal (NCLAT) has dismissed an appeal filed by Nazru S. Basheer, the proprietor of Hotel MB International, upholding an NCLT order that directed him to vacate the hotel premises after the approval of a resolution plan for Pancard Clubs Ltd.
Real Estate Mumbai
CBI Busts Rs3 Lakh Bribery Case: Deputy Registrar of NCLT Mumbai Among Those Arrested
The Central Bureau of Investigation (CBI) has arrested a deputy registrar of the National Company Law Tribunal (NCLT) in Mumbai and an individual in a Rs3.30 lakh bribery case. The arrests were made following a complaint from a hotel owner who alleged coercion to pay a bribe for a favorable outcome in a long-running corporate dispute.
Real Estate Mumbai
Kanakia Group Plans Real Estate Demerger, Seeks NCLT Approval
Mumbai-based Kanakia Group is planning to demerge its real estate division, Kanakia Spaces Realty Pvt Ltd and Transparent Developers Pvt Ltd, to attract investors and enhance financial flexibility. The group has approached the NCLT for approval.