NCLT approves Adani Group's acquisition of Radius Estates

16 Sep 2024 CW Team

The National Company Law Tribunal (NCLT) has approved the acquisition of Radius Estates and Developers by Bridgeport Realtors, a subsidiary of Adani Group's Adani Goodhomes, through a scheme of amalgamation. This move is a critical part of the resolution plan for Radius Estates, which has been undergoing the corporate insolvency resolution process (CIRP) since April 2021.

The scheme, now sanctioned by the NCLT, facilitates the merger of Radius Estates into Bridgeport Realtors. This plan was initially approved by the NCLT in January 2023 as part of a broader strategy to revive and consolidate Radius Estates' operations. In May 2024, the National Company Law Appellate Tribunal (NCLAT) also validated this resolution plan proposed by Adani Goodhomes.

The NCLT Mumbai bench emphasised the strategic intent behind the merger, which aims to revitalise a significant real estate project and maximise the asset value of Radius Estates. The amalgamation is expected to simplify the corporate structure, allowing for more effective management of real estate development. Key benefits highlighted include enhanced financial strength, improved cash management, and better service quality through operational synergies.

As part of the approval process, the tribunal waived the need for separate meetings of equity shareholders for Radius Estates, as their consent was implied through the scheme's inclusion in the approved plan. Bridgeport Realtors' majority shareholder, Adani Goodhomes, had already provided its formal consent, negating the need for a separate meeting. For creditors, Radius Estates' creditors had previously agreed to the scheme as part of the committee of creditors' approval. Since Bridgeport Realtors has no creditors, no further consent was required, according to the NCLT order issued on September 5.

(ET)

Equipment

11 Dec 2025

Caterpillar Debuts Three New Cat Excavators at EXCON 2025

Caterpillar Inc., a global leader in construction and mining machinery, strengthened its commitment to India’s infrastructure growth with the debut of three new Cat® hydraulic excavators at EXCON 2025, held from December 9–13 at the Bangalore International Exhibition Centre. The new models—Cat 321, Cat 322 and Cat 324—mark a significant step forward in delivering efficient, digital-ready equipment tailored for India’s evolving construction needs.Designed to support sustainability and productivity on modern jobsites, the machines feature advanced powertrains and intelligent electrohy..

JK Tyre Expands OTR Lineup with Four New Launches at EXCON 2025

JK Tyre & Industries, one of India’s leading tyre manufacturers, introduced four new Off-the-Road (OTR) tyres at the 13th edition of CII EXCON 2025, South Asia’s largest construction equipment exhibition, underway at the Bangalore International Exhibition Centre. The latest additions strengthen the company’s OTR portfolio and reaffirm its focus on delivering advanced mobility solutions for construction, mining and industrial operations.The new tyres were unveiled by R Mukhopadhyay, Director (R&D), JK Tyre. Among the highlights was the debut of the SKY GRIP, a specialised tyre des..

ACE, Sanghvi Movers Ink MOU to Boost India-Made Heavy Crane Adoption

Action Construction Equipment (ACE), the world’s largest pick-and-carry crane manufacturer and a leading Indian construction equipment maker, has entered into a strategic Memorandum of Understanding with Sanghvi Movers, Asia’s largest and the world’s fifth-largest crane rental company. The partnership aims to accelerate the deployment of indigenously manufactured heavy slew cranes, particularly truck cranes and crawler cranes, across large-scale infrastructure and industrial projects in India.The alliance aligns strongly with the Government of India’s “Aatmanirbhar Bharat” and “M..