Real Estate

Real Estate Transactions

Piramal Capital gets creditor status in Radius Project's 5.4-acre Mumbai Project

Economic Times  

The National Company Law Tribunal (NCLT) has affirmed the legality of the charge held by Piramal Capital & Housing Finance on realtor Radius Estate Projects’ development spread over a prime 5.4-acre land parcel in Santacruz, Mumbai’s western suburb.The project has been embroiled in a legal battle involving multiple stakeholders. Radius Estate Projects, formerly Vishwaroop Realtors, had initially secured loans from financial institutions. These loans totaling INR 700 crore were backed by mortgages on the project's land and assets through a series of deeds and agreements.