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)

Infrastructure Urban

06 Apr 2026

CFI Appoints New National Council for FY27 and FY28

The Construction Federation of India (CFI) has announced its newly elected National Council and office bearers for a two-year term covering FY27 and FY28. M. V. Satish, Advisor to CMD and Lead Ambassador for Middle East, L&T, has been elected President; Priti Patel, Chief Strategy & Growth Officer, Tata Projects, has been appointed Vice President; and Ajit Bhate, Managing Director, Precast India Infrastructures, has taken charge as Treasurer.The newly formed National Council brings together senior leaders from major EPC and infrastructure companies, reflecting CFI’s continued focus o..

India REIT Market Gains Momentum with Strong Returns

India’s Real Estate Investment Trust (REIT) market is witnessing strong growth, emerging as a competitive investment avenue both domestically and across Asia. According to a recent ANAROCK report released at EXCELERATE 2026 by NAREDCO Maharashtra NextGen, the sector is evolving into a mature asset class driven by solid fundamentals, regulatory backing and rising investor confidence.The introduction of Small and Medium REITs (SM REITs) in 2025 has further widened access through fractional ownership, unlocking a potential monetisation opportunity of Rs 670–710 billion. Indian REITs have deli..

G R Infraprojects Secures Rs 4,130 Million BESS Contract From NTPC

G R Infraprojects said it has secured a contract from NTPC to supply and implement a battery energy storage system (BESS) valued at Rs 4,130 million (mn). The company reported the order was awarded as part of NTPC's ongoing efforts to enhance grid flexibility and energy storage capacity. The contract represents a notable addition to the firm's project pipeline and underscores demand for utility scale storage solutions. The award is expected to strengthen G R Infraprojects' presence in the energy infrastructure sector and to contribute to the firm's order book and future revenues, subject to st..