NCLAT rejects HDFC plea opposing sale of IL&FS BKC property

06 Mar 2023 CW Team

The National Company Law Appellate Tribunal (NCLAT) rejected HDFC's request for a hold on Brookfield Asset Management's acquisition of the IL&FS headquarters in Mumbai's Bandra Kurla Complex (BKC). The sale of the property is in accordance with the updated resolution framework, which the appellate tribunal approved in March 2020, according to a two-member NCLAT bench, and thus cannot be used as a barrier to moving forward with the proposal's acceptance.

As part of a lease rental discounting arrangement, Housing Development Finance Corporation Ltd. has offered to grant a loan to IL&FS in the amount of $4 billion..

The cash flows produced by Infrastructure Leasing & Financial Services Ltd's usage of the TIFC property, whose cash flows were assigned in favour of HDFC, were to be used to repay the facility. Yet as part of its strategy to cut debt, the newly in charge of the indebted IL&FS chose to sell the property..

On September 23, 2022, it also received approval from the adjudicating body in accordance with the established method..

HDFC contested this, claiming that the order was issued on September 23, 2022, in contravention of the rules of natural justice, by the adjudicating authority..

Real Estate

08 May 2026

Integrated Waterproofing Strategies

Waterproofing buildings used to be an annual pre-monsoon affair but the evolution of real-estate development has changed that approach. In new developments, developers are weaving waterproofing solutions into both the design and construction phases, an approach that Nikhil Madan, Managing Director, Mahima Group, says, “is all about ensuring lasting durability [of the building] and keeping lifecycle risks including water seepage and extensive maintenance to a minimum.”Watertight by designAluminium formwork systems aren’t commonly thought of as a waterproofing tool but at the Mahima Group,..

GROHE Showcases Water-Led Design At Milan

GROHE unveiled its GROHE SPA Aqua Sanctuary at Milan Design Week 2026, transforming Piccolo Teatro Studio Melato into an immersive showcase of water, design and wellbeing. Built on the philosophy of ‘Wellbeing Through Water’, the installation reimagined bathrooms as holistic spaces for relaxation, rejuvenation and self-care.The Aqua Sanctuary was presented through three interconnected sanctums. The first showcased the 3D-printed GROHE SPA AquaTree shower and faucet, highlighting bespoke innovation and biophilic design. The second featured the Atrio Private Collection and GROHE SPA x Buster..

Rahee Group Expands Rail Manufacturing Capacity

Rahee Group has outlined a multi-year investment roadmap to expand its operational footprint and strengthen manufacturing capabilities for India’s growing railway and urban transit sector. The Group is expanding in Odisha with a new Track Component Casting Unit, for which the groundbreaking ceremony was held on 8 April 2026 in the presence of Odisha Chief Minister Mohan Charan Majhi.The Group’s flagship EPC arm, Rahee Infratech Ltd, continues to focus on complex rail infrastructure projects, including track systems, bridges, viaducts and ballastless infrastructure. Its wholly owned subsidi..