IL&FS obtains NCLT clearance to sell its headquarters to Brookfield

30 Sep 2022 CW Team

The sale of the 10-storey historic IL&FS headquarters in Mumbai's business area Bandra-Kurla Complex (BKC) to the world's largest alternative investment firm Brookfield Asset Management has been approved by the National Company Law Tribunal (NCLT).

Chronos Properties, an entity of Brookfield, won the bid to purchase the prestigious property for more than 1,080 crore. 10% of the entire value has already been paid to IL&FS, and the transaction is anticipated to be completed in FY23.

Resolutions submitted with the NCLT by the government-appointed board include the agreement. Before his term as chairman of the board ended on April.

The IL&FS board has lately undergone certain modifications thanks to the Ministry of Corporate Affairs (MCA). CS Rajan, who was CMD, has been reclassified as the non-executive chairman, and Nand Kishore, who is currently the Executive Director, has been promoted to Managing Director. Till March 2023, these adjustments will be in effect.

Also read:
Housing project under PMAY to launch in Vadodara after five years
Hiranandani in Thane rents 18 floors office space to IDFC First Bank

Infrastructure Urban

07 Nov 2025

Welspun Enterprises Wins 910 MLD Panjrapur WTP Contract

Welspun Enterprises (WEL), the infrastructure and energy arm of Welspun World, has secured a major contract from the Brihanmumbai Municipal Corporation (BMC) to design, build and operate a 910 million litres per day (MLD) Water Treatment Plant (WTP) at Panjrapur, Maharashtra.Valued at approximately Rs 31.45 billion, the project encompasses end-to-end civil, mechanical, electrical and instrumentation works, including the construction of a treated water sump and pumping station. Of the total value, nearly Rs 11.56 billion is allocated to Operations & Maintenance (O&M), with an additional..

Mitsubishi Power Wins Boiler Upgrade Contract for O Mon 1 Plant

Mitsubishi Power, a power solutions brand of Mitsubishi Heavy Industries, (MHI), has been awarded a contract to support the oil-to-natural-gas fuel conversion at the O Mon 1 Thermal Power Plant in Can Tho, southern Vietnam. As the OEM of the plant’s existing boiler, Mitsubishi Power will supply key equipment—including new gas burners—and implement a selective catalytic reduction (SCR) system to reduce NOx emissions and help the plant meet stricter environmental standards.The O Mon 1 facility includes two 330 MW units that commenced operations in 2009 and 2015, with all major equipment or..

Liebherr’s 10,000th XPower Wheel Loader Joins BERGER’s Fleet

BERGER Rohstoffe GmbH has welcomed the 10,000th Liebherr XPower wheel loader to its operations at the Schlag granite quarry in Passau. The milestone machine, officially handed over at Liebherr’s Bischofshofen plant in May 2025, underscores the long-standing partnership between BERGER, Liebherr, and the Beutlhauser Group. Equipped with Liebherr’s signature power-split travel drive, the new L 580 XPower is already delivering strong results under demanding quarry conditions.At the Schlag quarry, BERGER Rohstoffe processes approximately 200,000 tonnes of Bayerwald granite annually into high-qu..