March 2020 \ Business & Investment \ BUSINESS AND GOVERNANCE
Adani gets Mandi House prime property for Rs 400 cr

The Adani Group will acquire a prime residential property ...

The Adani Group will acquire a prime residential property near Mandi House in New Delhi after winning a bid to acquire Aditya Estates.

Adani won the bid through an insolvency process for a total deal value of Rs 400 crore. Aditya Estates holds a 3.4 acre of prime residential property near Mandi House. By all accounts, it is a bargain deal as similar properties have fetched a much higher price.

The principal bench of the National Company Law Tribunal has approved the resolution plan of Adani Properties to acquire Aditya Estates for Rs 265 crore. Another Rs 135 crore would go towards meeting the statutory charges, taking the total deal value to Rs 400 crore.




Tags: adani

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