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Indian companies, especially those engaged in infrastructure development of the country, have been busy reducing their debt burden. Many companies have sold off their assets to clear off debts as this has helped them in cleaning up their balance sheets. This has resulted in the improvement of the debt-equity ratios of the companies. The banks have [...] Continue Reading »
Banks have started insisting on investigative audits for engineering, procurement and construction (EPC) units who are looking to recast their loans. A forensic team will evaluate such companies and reduce the chances of any ‘package failure’ in corporate debt restructuring (CDR). The bankers will look in a detailed manner in case of all the related [...] Continue Reading »
Housing Development & Infrastructure Ltd has been asked by the High Court to consider handing over possession of ready flats at its Premier Residency project at Kurla in Mumbai. The Bombay high Court suggested that the lawyers representing the developer and home buyers should try for an out of-court settlement. Aejaz Saiyed, who has bought [...] Continue Reading »
The Mumbai based Hiranandani Group has acquired Hirco Plc’s 368-acre Chennai project for Rs. 2,000 crore. Hirco Plc. is an investment firm. They raised £350 million (Rs. 3,500 crore) from global investors to fund Hiranandani Group’s Chennai and Panvel townships. The funds were used by Hiranandani Group to acquire 588 acres in Panvel and 368 [...] Continue Reading »
