SC declines stay on Adani Goodhomes resolution plan for Radius Estates

09 Sep 2024 CW Team

The Supreme Court declined to halt the implementation of Adani Goodhomes Pvt Ltd's resolution plan for the debt-laden Radius Estates & Developers Pvt Ltd, despite an appeal from dissenting financial creditor, Beacon Trusteeship Ltd. Beacon, which argued that the plan imposed a 93% haircut on its claims, will now await further hearings scheduled for January.

The Bench, led by Justice Sanjiv Khanna, stated it would review the issue regarding dues payable to Beacon Trusteeship. Beacon had previously contested the National Company Law Appellate Tribunal's (NCLAT) approval of Adani Goodhomes' plan, asserting that the Mumbai bench of the National Company Law Tribunal (NCLT) failed to address the plan's inequity toward secured financial creditors, while offering 100% recovery to homebuyers through allotted units.

Beacon's petition to initiate insolvency proceedings against Radius Estates was admitted in April 2021. The creditors' committee for Radius Estates included homebuyers, HDFC Bank Ltd, Piramal Capital, Beacon Trusteeship, and ICICI Prudential. Adani Goodhomes? resolution plan was approved in January 2023.

However, ICICI Prudential and Beacon Trusteeship opposed the plan, alleging that the resolution professional, Jayesh Sanghrajka, had colluded with HDFC Bank to favor Adani Goodhomes, resulting in a single bid. They also argued that Radius Estates' liquidation assets were undervalued, pointing to irregularities in the valuation report.

Adani Goodhomes had offered approximately Rs 760 million against creditors' claims of around Rs 17 billion. (ET)

Infrastructure Urban

11 Mar 2026

India Expands Semiconductor Training To 500 Institutions

Under the Chips to Startups programme of the India Semiconductor Mission, the Union minister responsible for Railways, Information and Broadcasting, and Electronics and IT reported notable progress in talent development. He indicated that over the past four years substantial steps have been taken towards a 10-year target of training 85,000 engineers in semiconductor design. World-class EDA tools have been deployed in 315 academic institutions across the country to provide students with practical exposure to chip design. These EDA tools are supported by leading global firms and are accessible t..

Delhi Institutions Support India Semiconductor Mission

The Government of India has prioritised talent development through training, upskilling and workforce development under the Chips to Startups initiative of the India Semiconductor Mission, with officials noting progress in four years towards a 10-year target of training 85,000 engineers in semiconductor design. Electronic design automation tools provided by Synopsys, Cadence, Siemens, Renesas, Ansys and AMD have been deployed in 315 academic institutions, enabling students to gain practical chip design experience. Chips have been fabricated and tested at the Semiconductor Laboratory, Mohali, a..

NHA Announces Winners Of NHCX Hackathon At IIT Hyderabad

The National Health Authority (NHA) has concluded the NHCX Hackathon under the Ayushman Bharat Digital Mission (ABDM) to stimulate innovation around the National Health Claims Exchange (NHCX). The winning teams presented their solutions at the NHCX Innovation Meet held at IIT Hyderabad during a two-day event in March 2026 that also served as the hackathon grand finale. The hackathon itself ran from 22 to 28 February 2026 and aimed to accelerate paperless, transparent claims processing across India. The event was organised with a range of ecosystem partners, including the Insurance Regulatory a..