IL&FS has filed a plea seeking to reverse the sale of its iconic BKC building to Brookfield, alleging non-compliance with bid conditions. The insolvent financier claims Brookfield's unit, Chronos, failed to renew a ₹108-crore performance guarantee, rendering the letter of intent invalid. This move comes as commercial property values in BKC have risen, potentially making Brookfield's initial offer less appealing.
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