Shree Naman Approved for Radius Infra Takeover

10 May 2024 CW Team

Shree Naman Group has received approval from the National Company Law Tribunal (NCLT) to acquire Radius Infratel Limited, a subsidiary of bankrupt real estate developer Radius Developers. The acquisition will enable Shree Naman to take over Radius Infratel's ongoing projects and assets, marking a significant development in the real estate sector.

The decision by NCLT comes as part of the resolution process under the Insolvency and Bankruptcy Code (IBC). Shree Naman Group, known for its expertise in real estate development, aims to leverage this acquisition to expand its presence in the market. The acquisition will also provide relief to stakeholders and homebuyers associated with Radius Infratel, offering a path towards project completion and resolution of pending issues.

Shree Naman's commitment to quality and timely delivery is expected to positively impact the projects under Radius Infratel, instilling confidence among buyers and investors. This approval by NCLT signifies a step forward in the resolution process for Radius Infratel and underscores the effectiveness of the IBC framework in addressing distressed assets in the real estate sector.

Shree Naman's takeover of Radius Infratel is poised to bring stability and momentum to the projects under its umbrella, contributing to the revitalization of the real estate market. As the acquisition progresses, stakeholders can look forward to a renewed sense of progress and direction in the development landscape.

Infrastructure Energy

19 Sep 2025

J&K CM Rules Out Power Privatisation, Focuses on Sector Reform

Jammu and Kashmir Chief Minister Omar Abdullah has dismissed speculation regarding privatisation of electricity in the Union Territory, emphasising that his priority is to strengthen and reform the power sector.“We are not discussing privatisation. By reducing losses, improving billing efficiency, and enhancing revenue, there will be no need for it. My vision is to strengthen and reform the power sector in J&K,” Abdullah stated.He addressed the gathering at the 58th Engineers’ Day at SKICC on Monday evening, an event honouring Bharat Ratna Sir M Visvesvaraya for his pioneering contri..

Mumbai’s Sassoon Dock to Get Tech-Driven Modernisation with Finland

The Maharashtra government, in collaboration with Finland, will modernise Mumbai’s historic Sassoon Dock using advanced technology, state minister Nitesh Rane announced on Wednesday.Rane met a delegation of Finnish officials and representatives of Finnish companies at the dock to discuss strategic plans for upgrading the facility in south Mumbai, according to an official statement.Built in the 19th century, Sassoon Dock is one of Mumbai’s oldest and busiest fishing harbours. Operations currently exceed its original capacity, raising concerns over hygiene, odour, fish handling standards, an..

Agarwal Industrial Wins Rs 3.3 Billion IOCL Bitumen Tender

Agarwal Industrial Corporation rose 3.84 per cent to Rs 945.65 after announcing it had secured a prestigious tender from Indian Oil Corporation (IOCL) worth Rs 3.3 billion.In a regulatory filing during market hours, the company confirmed it had won the tender to supply Bulk Bitumen (VG-30 and VG-40 grades) to IOCL’s Kakinada locations.The firm quantity under the award totals around 60,500 tonnes across 11 parcels, while the optional quantity is approximately 33,000 tonnes across six parcels. This brings the total awarded quantity to roughly 93,500 tonnes. At current market prices, the firm o..