Venture Intelligence (TSJ Media Pvt. Ltd.)
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NCLT orders insolvency proceedings against Fosun's affiliate realty company
The National Company Law Tribunal (NCLT) has ordered initiation of a corporate insolvency resolution process against real estate special purpose vehicle (SPV) Sankalp Siddhi Developers. The SPV was promoted by Ahuja Hive, now known as Hive Carbon-Zero Developers, for the development of a project in Mumbai’s Jogeshwari suburb, and has been controlled and managed by Chinese group Fosun since 2022.
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Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.