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Adani Goodhomes: NCLAT upholds Adani Goodhomes bid with 93% haircut for Radius Estate

The Insolvency Appellate Tribunal NCLAT upheld its Adani Goodhomes resolution plan for Radius Estate. NCLAT rejected petitions from two dissenting financial creditors, and approved the plan to provide possession to nearly 700 flat owners without price escalation. The plan was opposed by Beacon Trusteeship and ICICI Prudential Venture Capital Fund Real Estate, who claimed it was unfair, but NCLAT affirmed the Commercial Creditors Committee s decision. ....

Bandra , Maharashtra , India , Mumbai , Adani-goodhomes , Adani-goodhome , Prudential-venture-capital-fund-real-estate , National-company-law-appellate-tribunal , Committee-of-creditors-co , Income-group-cooperating-housing-society , Beacon-trusteeship-ltd , Adani-realty

NCLAT upholds Adani Goodhomes bid with 93% haircut for Radius Estate, ET RealEstate

Adani Goodhomes: A two-member bench comprising the NCLAT Chairman rejected the petitions by two dissenting financial creditors, saying it was "commercial wisdom" of the Committee of Creditors (CoC), which approved the payout to different creditors. ....

Bandra , Maharashtra , India , Mumbai , Adani-goodhomes , Adani-goodhome , National-company-law-tribunal , Beacon-trusteeship-ltd , Adani-realty , National-company-law-appellate-tribunal , Committee-of-creditors-co , Income-group-cooperating-housing-society