M&A

M&A

Adani Properties gets NCLT nod to buy 2 Mumbai assets of bankrupt HDIL

Economic Times   BSE Announcement  

The National Company Law Tribunal (NCLT) has approved the acquisition of two assets of defunct real estate developer Housing Development and Infrastructure (HDIL) by Adani Properties through the corporate insolvency resolution process (CIRP).The assets include a commercial property known as 'Inspire BKC' in Bandra-Kurla Complex and a land parcel in Kalyan Shahad on the outskirts of Mumbai.Adani was also the only bidder to make Insolvency and Bankruptcy Code (IBC)-compliant proposals for both the properties.