Kishore Biyani Settles Debts, Sells SOBO Mall

16 Apr 2024 CW Team

In a strategic move to settle outstanding debts, Indian retail magnate Kishore Biyani has successfully sold the iconic South Mumbai mall, SOBO Central, to K Raheja Corp, a prominent real estate developer. This transaction marks a significant milestone in Biyani's efforts to streamline his financial obligations and reshape his business portfolio.

SOBO Central, located in the heart of Mumbai's bustling business district, has long been regarded as a prime commercial property, attracting both local shoppers and international visitors. Its sale underscores the shifting dynamics within the retail sector and reflects Biyani's commitment to adapting to changing market conditions.

K Raheja Corp, known for its expertise in real estate development and management, is poised to leverage the strategic location and potential of SOBO Central to further enhance its presence in Mumbai's competitive property market. The acquisition aligns with the company's expansion strategy and underscores its confidence in the long-term prospects of the city's real estate sector.

For Biyani, the sale of SOBO Central represents a strategic decision to address financial challenges and refocus his business priorities. As the founder of Future Group, one of India's leading retail conglomerates, Biyani has been at the forefront of the country's retail revolution, pioneering innovative concepts and business models. However, like many businesses, Future Group faced headwinds exacerbated by the economic downturn and shifting consumer preferences.

By divesting SOBO Central, Biyani aims to unlock value and streamline his financial position, enabling Future Group to pursue growth opportunities and strengthen its core operations. The transaction underscores Biyani's resilience and strategic acumen in navigating challenging market conditions, while also highlighting the importance of adaptability and agility in today's dynamic business environment

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..