Sheth Developers, Sunteck Realty in race to acquire of bankrupt HDIL

08 Jan 2024 CW Team

Up to 25 entities, including Sheth Developers and Sunteck Realty, have shown interest in acquiring the insolvent Housing Development and Infrastructure (HDIL).

According to a regulatory filing by HDIL, A N Manudhane, the corporate insolvency resolution professional, stated that 25 entities qualify as prospective resolution applicants for the company.

In 2019, the National Company Law Tribunal (NCLT) accepted a petition from Bank of India against HDIL, which had a debt of Rs 5.2 billion to the lender.

Among those expressing interest are Vikram Gaikwad, P Srinivas Reddy, Shyam Sunder Reddy, and Ashok Reddy, as mentioned in the filing.

Other interested entities comprise Sheth Developers, Sunteck Realty, Galaxy Apartment F Wing Welfare Association, Dev Land and Housing, Puma Realtors, Golden Dreams Buildcon, Metro Satyam Developers, and Pegasus Ventures.

On December 1, 2023, Manudhane called for expressions of interest for the financially distressed company, with the submission deadline set for December 16. Subsequently, a provisional list of eligible entities was released on December 26.

Infrastructure Transport

13 Oct 2025

Tata, Airbus to Build India’s First Private Helicopter Line

In a landmark development for India’s aerospace sector, Tata Advanced Systems Limited (TASL) and Airbus will establish the country’s first private-sector helicopter assembly line in Vemagal, Karnataka. The facility will manufacture the Airbus H125 and H125M, marking a significant milestone in India’s push for self-reliance in aviation and defence manufacturing. The new Final Assembly Line (FAL) will produce the H125, the world’s best-selling single-engine helicopter, known for its versatility and performance in extreme environments. The first ‘Made in India’ H125 is expected to ro..

NeGD to Support Bharat Taxi in Building Cooperative Ride Platform

In a significant move for India’s digital and mobility transformation, the National e-Governance Division (NeGD) of the Digital India Corporation, under the Ministry of Electronics and Information Technology (MeitY), has entered into an advisory partnership with Sahakar Taxi Cooperative Limited, the company behind Bharat Taxi — a first-of-its-kind, cooperative-led national ride-hailing platform. A Memorandum of Understanding (MoU) has been signed between NeGD and Sahakar Taxi to provide strategic advisory and technical support covering key areas such as platform integration, cybersecurity..

MeitY Hosts Pre-Summit for India–AI Impact Summit 2026

The Ministry of Electronics and Information Technology (MeitY), Government of India, hosted a series of Pre-Summit events for the upcoming India–AI Impact Summit 2026 at the India Mobile Congress (IMC) 2025 in New Delhi. These sessions mark a key milestone ahead of the main summit, scheduled for 19–20 February 2026 at Bharat Mandapam, New Delhi. Delivering the inaugural address, S. Krishnan, Secretary, MeitY, highlighted India’s innovative and frugal approach to AI development. “We have adopted innovative means by learning from others’ experiences to build projects and products that..