DAKC will be up for sale

25 Jan 2023 CW Team

Reliance Realty Ltd. (RRL) and Campion Properties Ltd. (CPL), two subsidiaries of Reliance Communications (RCom), have begun selling properties, including the Dhirubhai Ambani Knowledge City (DAKC) complex, which housed the bankrupt telco's headquarters.

In a filing, RCom stated, "...the board of directors of two wholly owned RCom subsidiaries, RRL and CPL (referred to as "selling companies") have approved initiation of sale process for certain properties owned by such selling companies"—including the DAKC.

Since RCom is their sole shareholder, the bankrupt telco, which is undergoing insolvency proceedings, claimed that both selling companies had informed it of the proposed sale procedure. The selling companies have informed us that the proposed process for finding potential buyers is being started. When the terms of the sale are finalised, they will each approach RCom for the necessary approvals in its capacity as (their) shareholder.

RCom added that despite the fact that the company's resolution professional has discussed the issue with the committee of creditors (CoC), the committee has not yet approved the sale of these properties.

Over the past four and a half years, RCom, Anil Ambani's telecom company, has been going through corporate insolvency resolution. In May of 2018, the business was taken to the bankruptcy courts, and in 2019 it began the Insolvency and Bankruptcy Code (IBC) process.

Infrastructure Transport

27 Jun 2026

Noida Airport Fuels NCR Realty Growth

The start of commercial operations at Noida International Airport has recently emerged as a major trigger for real estate growth across Noida, Greater Noida and the Yamuna Expressway region. The airport is expected to improve regional connectivity and support the next phase of development in eastern NCR.The airport, inaugurated on 28 March, has begun passenger services, while cargo operations are also expected to strengthen its role as an economic and logistics hub. Its operationalisation is expected to reduce dependence on Delhi’s Indira Gandhi International Airport for residents and busine..

thyssenkrupp and GlobalLogic Form AI Alliance

thyssenkrupp AG and GlobalLogic, a Hitachi Group company, have recently formed a strategic alliance to deploy autonomous robotics and Physical AI across heavy industry operations. The partnership aims to improve safety, reduce engineering bottlenecks and accelerate industrial transformation at scale.The alliance brings together thyssenkrupp’s industrial expertise with Hitachi’s innovation capabilities. It includes GlobalLogic, Method and Hitachi America R&D, creating a “Lab-to-Scale” pipeline that connects research, digital strategy, design and enterprise software engineering for i..

Platinum Corp Launches Luxury Suites in Santacruz

Platinum Corp has recently launched Platinum Stellar: Bespoke Presidential Suites, a premium residential project in Santacruz West, Mumbai. The development is positioned as a boutique luxury offering for homebuyers seeking expansive layouts, privacy and personalised living experiences.Located on Main Avenue, the project has been designed as a low-density, high-end residential address with spacious homes starting from 2,500 sq ft and extending to full-floor residences. The project targets HNIs, business owners and legacy residents from the Bandra-Khar-Santacruz belt.Platinum Stellar has been de..