Adani Group: Adani on track to acquire another company, deal just a matter of time – mssewb.org

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Adani Group to acquire bankrupt real estate company

Adani Group.
Adani on track to acquire another company, deal just a matter of time

Highlights

  • Gautam Adani is going to acquire a new company.
  • News that the acquisition will be at a 98% discount.
  • This is known from special sources.
Adani Group: Gautam Adani is going to acquire another company. This is a bankrupt company. According to sources, Adani Goodhomes Pvt. A step forward to acquire insolvent Radius Estates and Developers Pvt. It is said that they will acquire the company at a 98% discount. The acquisition is offered at a discount from the money sought by the bankrupt company’s creditors. This is the news according to informed sources. According to sources, the company sought 16.58 billion rupees and 15.2 million rupees for employees. But Adani Group has offered to pay creditors 319.7 million rupees ($4 million). A person aware of the incident said this. But he did not want to reveal his identity as the whole process is still going on under wraps. Incidentally, Adani Group’s Adani Goodhomes Pvt. Apart from this, the other assurance is that they have announced to provide about 700 luxury apartments worth about 8 billion rupees to Radius’ clients. They have promised to deliver the apartment by June 2024.

The Adani group’s bid for Radius has been cleared by the National Company Law Tribunal. Radius’ former partner DB Realty told the stock exchange. However, they did not say anything about the financial details. But last year there was a debate about it. Several of RADIUS’ lenders had alleged irregularities in the bidding process. But it was rejected by NCLT. Later the lender approached the court regarding the matter. Currently the matter is under trial and no final verdict has been issued yet. Through this bid, the Adani group will get the benefit of acquiring the Ten BKC project.

Which is within the New Financial District of Mumbai. Bandra Kurla Complex or BKC houses the headquarters of many international as well as domestic banks in Southeast Asia. This complex is also adjacent to Asia’s largest Dharavi slum. The Dharavi slum development project has also been taken over by the Adani group. Ten BKC is spread over an area of ​​about 5 acres. It is believed that when this project is completed, its market value will be around 25 billion rupees. An unnamed official associated with the project said this.

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