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NCLAT upholds Adani Goodhomes’ resolution plan for Radius Estates

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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.