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)

Real Estate

02 Apr 2026

Indian real estate attracts USD 1.4 bn institutional investments in Q1 2026: Vestian

Institutional investments in India’s real estate sector touched USD 1.4 billion in Q1 2026, marking the highest first-quarter inflow since 2022, according to Vestian. While investments fell 62 per cent quarter-on-quarter due to an exceptionally high base in the previous quarter, they rose 74 per cent compared to the same period last year, reflecting sustained investor confidence despite rising geopolitical and macroeconomic challenges.Commercial real estate remained the key driver of investment activity during the quarter, accounting for 80 per cent of total inflows, sharply higher than 38 p..

VECV crosses 1 lakh annual vehicle sales milestone in FY26

VE Commercial Vehicles (VECV), a joint venture between Volvo Group and Eicher Motors, has surpassed the 1 lakh annual sales mark in FY 2025–26, recording its highest-ever commercial vehicle sales performance. The company said it sold more than 100,000 vehicles during the year, marking a major milestone aligned with the original vision of the Volvo–Eicher joint venture.The strong performance was supported by demand across categories. Light and Medium Duty (LMD) trucks contributed 47,789 units, accounting for 46.1 per cent of total sales. Heavy Duty (HD) trucks recorded 26,867 units (25.9 pe..

Rodic Digital & Advisory partners SatSure to deploy EO intelligence in public sector

Rodic Digital & Advisory (RDA), the strategic advisory and digital transformation arm of Rodic Consultants, has signed a strategic cooperation Memorandum of Understanding (MoU) with SatSure to jointly pursue opportunities in India’s public sector. The collaboration aims to integrate high-resolution Earth Observation (EO) data and geospatial AI into government workflows to strengthen monitoring, compliance, and operational decision-making across key sectors.The partnership combines SatSure’s Earth intelligence capabilities with RDA’s expertise in government digital transformation and ..