Debt financing

KKR drags realtor Mantri Developers to NCLT over Rs.145-Cr dues

Economic Times  

Global private equity firm KKR has dragged Bengaluru-based Mantri Developers to the National Company Law Tribunal (NCLT) over an INR 145 crore credit facility that it had granted the company five years ago. The PE firm's real estate lending arm, KKR India Asset Finance, has filed an application with NCLT to start insolvency proceedings against Mantri Developers alleging non-payment of dues by the company. KKR India Asset Finance had offered funding to Mantri Developers in 2016 for one of its residential projects. ICICI Bank took possession of Mantri Developer's corporate office in Bengaluru in August 2020 due to non-payment of dues.

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