NBCC Plans Shadow Lender to Save Over $100 Million
ECONOMY & POLICY

NBCC Plans Shadow Lender to Save Over $100 Million

National Buildings Construction Corporation (NBCC) is reportedly in the process of setting up a shadow lender, aiming to save more than $100 million. This move comes amidst efforts to address financial challenges and bolster the corporation's financial position.

The shadow lender initiative by NBCC is seen as a strategic step to navigate the complex financial landscape and enhance liquidity. By establishing an in-house financing entity, NBCC aims to streamline funding processes and reduce reliance on external sources, potentially leading to significant cost savings.

Sources suggest that NBCC's decision to create a shadow lender underscores its commitment to financial prudence and proactive risk management. This initiative is expected to not only optimise financial resources but also provide greater flexibility in financing various projects undertaken by the corporation.

The establishment of a shadow lender by NBCC reflects a proactive approach to addressing financial constraints and strengthening its financial resilience. This move is likely to have positive implications for the corporation's financial health and its ability to execute projects efficiently.

Overall, NBCC's decision to set up a shadow lender signals a strategic shift in its financing strategy and underscores its commitment to navigating financial challenges effectively. This initiative is anticipated to contribute to NBCC's long-term financial sustainability and support its growth objectives in the real estate sector.

National Buildings Construction Corporation (NBCC) is reportedly in the process of setting up a shadow lender, aiming to save more than $100 million. This move comes amidst efforts to address financial challenges and bolster the corporation's financial position. The shadow lender initiative by NBCC is seen as a strategic step to navigate the complex financial landscape and enhance liquidity. By establishing an in-house financing entity, NBCC aims to streamline funding processes and reduce reliance on external sources, potentially leading to significant cost savings. Sources suggest that NBCC's decision to create a shadow lender underscores its commitment to financial prudence and proactive risk management. This initiative is expected to not only optimise financial resources but also provide greater flexibility in financing various projects undertaken by the corporation. The establishment of a shadow lender by NBCC reflects a proactive approach to addressing financial constraints and strengthening its financial resilience. This move is likely to have positive implications for the corporation's financial health and its ability to execute projects efficiently. Overall, NBCC's decision to set up a shadow lender signals a strategic shift in its financing strategy and underscores its commitment to navigating financial challenges effectively. This initiative is anticipated to contribute to NBCC's long-term financial sustainability and support its growth objectives in the real estate sector.

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Real Estate

Delhi HC Orders NBCC to Refund Homebuyer

The Delhi High Court has ruled in favour of a homebuyer, directing the National Buildings Construction Corporation (NBCC) to refund Rs 7.6 million along with interest. The decision comes as a relief to the homebuyer, who had filed a petition seeking the refund of the amount paid towards the purchase of a property.

The court's order highlights the importance of protecting the rights of homebuyers and ensuring accountability among real estate developers. The ruling also underscores the significance of adhering to regulatory guidelines and fulfilling commitments made to customers.

T..

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Real Estate

Delhi HC Orders NBCC to Refund Homebuyer

The Delhi High Court has ruled in favour of a homebuyer, directing the National Buildings Construction Corporation (NBCC) to refund Rs 7.6 million along with interest. The decision comes as a relief to the homebuyer, who had filed a petition seeking the refund of the amount paid towards the purchase of a property.

The court's order highlights the importance of protecting the rights of homebuyers and ensuring accountability among real estate developers. The ruling also underscores the significance of adhering to regulatory guidelines and fulfilling commitments made to customers.

T..

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Infrastructure Urban

NBCC secures contracts valued Rs 450 crore in Chhattisgarh and Kerala

National Buildings Construction Corporation Limited (NBCC), a Government of India undertaking, has recently clinched contracts worth Rs 450 crore in the states of Chhattisgarh and Kerala. These contracts signify NBCC's continued commitment to infrastructure development across various regions in the country.

In Chhattisgarh, NBCC has been awarded a contract worth Rs 150 crore for the construction of government medical colleges in Raigarh and Ambikapur. These medical colleges are integral to bolstering the healthcare infrastructure in the state, addressing the growing need for quality med..

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Infrastructure Urban

PNB Official Accused of Embezzling Rs 5 Crore from Bhopal Firm

The Central Bureau of Investigation (CBI) has charged a Punjab National Bank (PNB) official with embezzling approximately Rs 4.98 crore from a Bhopal-based infrastructure construction company. The head cashier, Mukul Singh, allegedly conspired with a private individual, Vinod Kumar Singh, to commit the fraud.

The incident occurred at PNB?s Delhi Road Branch in Hapur, Uttar Pradesh. According to CBI officials, Mukul Singh, without proper authorization, merged the account of Dilip Buildcon Ltd with that of Vinod Kumar Singh?s company, Star Raze. Subsequently, funds amounting to Rs 4.98 cr..

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Infrastructure Urban

KMRL's Rs.1.16 Bn Project Delayed Due to Lack of Government Support

The Kochi Metro Rail Limited (KMRL) is experiencing setbacks in its ?1.16 billion project as several government departments have reportedly failed to provide necessary support. The project, aimed at enhancing urban transportation infrastructure in Kochi, has encountered delays due to bureaucratic hurdles and insufficient cooperation from concerned government bodies.

According to sources familiar with the matter, the project's progress has been significantly hampered as key departments have not fulfilled their commitments, including providing essential clearances and approvals. This lack..

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