NCLT approves Adani Group ₹14,535 crore bid to acquire bankrupt Jaiprakash Associates

The National Company Law Tribunal has green-lighted Adani Enterprises' acquisition of Jaiprakash Associates with a deal worth Rs 14,535 crore. With this bid, Adani Enterprises emerged as the leading contender for the struggling infrastructure firm, which holds a valuable portfolio that spans real estate, cement, and hospitality sectors.

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RSVM Hospitality buys 18.6-acre land parcel in Thane for ₹498 crore

RSVM Hospitality has secured a significant land deal in Thane. The company acquired over 18.6 acres for more than Rs 498 crore from Neterwala Group entities. This large transaction occurred in Majiwada, Thane district. Such acquisitions are fueling future residential and mixed-use developments in the Mumbai Metropolitan Region. Thane's real estate market is experiencing strong growth.

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ED raids residential, office premises of Mantri Developers, directors in Bengaluru

The Enforcement Directorate (ED) on Monday carried out search operations at the residential and office premises of real estate firm Mantri Developers Private Limited and its directors in Bengaluru in connection with a money laundering investigation, officials said.

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SC gives final opportunity to Noida authority to comply with orders on stalled sports city project

The Supreme Court has stepped in to give Noida Authority one last chance to comply with its established orders regarding the halted Noida Sports City initiatives. Following a construction freeze that took effect in January 2021, the court's recent rulings had already signaled a pathway for reconstruction.

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EOW arrests builder in ₹116 crore Chandigarh Smart City funds scam

Chandigarh Police arrested realtor Vikram Wadhwa in connection with an alleged Rs 116.84 crore scam involving Chandigarh Smart City funds. Wadhwa reportedly colluded with a former IDFC First Bank manager to divert funds through shell companies and invest in real estate. Three other accused were also brought from jail for interrogation.

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Scheme to incubate eight new cities cannot be implemented: Housing ministry

The government has decided to abandon its plan for the development of eight new cities, explaining that inadequate planning frameworks rendered the Rs 8,000 crore grant from the 15th Finance Commission unusable. With a keen eye on effective fund management, the ministry has opted to reallocate the budget towards bolstering seven established city economic zones, aiming for more sustainable growth.

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Brookfield India REIT plans ₹4,000 crore institutional placement; Ecoworld SPV to raise ₹1,125 crore from 360 ONE fund

Brookfield India REIT is preparing to raise ₹4,000 crore through institutional placements. Arliga Ecoworld Business Parks, its subsidiary, is anticipated to fetch ₹1,125 crore from the 360 ONE WAM funds. These funds will not only aid in acquisitions and debt repayments but also enhance capital expenditures to drive future growth initiatives.

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