Login

News Post

NCLAT upholds Adani Goodhomes’ resolution plan for Radius Estates

LivemintLivemint · 5m
NCLAT upholds Adani Goodhomes’ resolution plan for Radius Estates

Adani Goodhomes' resolution plan to acquire bankrupt real estate company Radius Estates has been upheld by the National Company Law Appellate Tribunal (NCLAT). The decision rejects challenges from creditors and debenture holders who claimed collusion between the resolution professional and HDFC Ltd. Adani Goodhomes, a subsidiary of Adani Infrastructure and Developers, offered approximately ₹76 crore to creditors, resulting in a 96% haircut, and promised to complete the Mumbai residential project at no additional cost to homeowners. The bid had previously received approval from over two-thirds of the company's creditors and the NCLAT's ruling affirms the earlier decision by the Mumbai bench of the National Company Law Tribunal.

4
View Source

Comments

More Like this

NCLAT upholds NCLT order approving Sarda Energy’s bid for SKS Power | Mint

NCLAT upholds NCLT order approving Sarda Energy’s bid for SKS Power | Mint

NCLT approves Sarda Energy’s resolution plan for SKS Power | Mint

NCLT approves Sarda Energy’s resolution plan for SKS Power | Mint

Supreme Court to hear Jet Airways lenders' plea against NCLAT order on Friday

Supreme Court to hear Jet Airways lenders' plea against NCLAT order on Friday

Torrent Power challenges NCLT nod to Sarda Energy’s resolution plan for SKS Power | Mint

Torrent Power challenges NCLT nod to Sarda Energy’s resolution plan for SKS Power | Mint

At long last, Jet Airways revival in sight

At long last, Jet Airways revival in sight

RCap resolution: NCLAT seeks Hinduja’s reply on lenders’ plea to forfeit equity | Mint

RCap resolution: NCLAT seeks Hinduja’s reply on lenders’ plea to forfeit equity | Mint

Jalan Kalrock Consortium deposits another ₹100 cr in Jet Airways under revival plan

Jalan Kalrock Consortium deposits another ₹100 cr in Jet Airways under revival plan

NCLAT rejects tax claim against Reliance Communication dues after insolvency plea | Mint

NCLAT rejects tax claim against Reliance Communication dues after insolvency plea | Mint

SC reserves verdict on plea against NCLAT order stopping insolvency proceedings against Byju's

SC reserves verdict on plea against NCLAT order stopping insolvency proceedings against Byju's

NCLAT refuses to tinker with Finolex’s AGM vote that ousted Deepak Chhabria | Mint

NCLAT refuses to tinker with Finolex’s AGM vote that ousted Deepak Chhabria | Mint

Download the medial app to read full posts, comements and news.