Support: +91-22-61011756 / help@projectstoday.com
Help
1. Boolean Searches :

i. AND - Shows results where both terms on either side of the 'AND' operator are present. 'AND' must be in upper case. For example search term - delhi AND metro result - It will return records in which 'delhi' as well as 'metro' both are present.

ii. OR - Shows results where either term (or both terms) is present. 'OR' must be in upper case. For example search term - delhi OR metro result - It will return records in which either 'delhi' or 'metro' or both are present

2. Proximity Searches

A proximity search looks for terms that are within a specific distance from one another. For example, search term - 'delhi metro'~10 result - It will search for records where 'delhi' and 'metro' are found within 10 words of each other

3. Phrase searches

You can search phrases using double quotes. for e.g. 'delhi metro' result - It will return records where 'delhi metro' phrase is found.

Six companies evince interest to acquire HDIL

Tuesday, 04 Aug 2020
Share this on :
Six companies including Adani Properties, Suraksha Asset Reconstruction and Sunteck Realty have shown initial interest to acquire debt-laden Housing Development & Infrastructure (HDIL) through the insolvency resolution process. 
 
Adani Properties and Suraksha Group had participated in the insolvency resolution process of Jaypee Infratech, which eventually was acquired by the state-owned NBCC. 
 
HDIL is under corporate insolvency resolution process (CIRP) pursuant to the provisions of the Insolvency and Bankruptcy Code (IBC) 2016. 
 
The invitation for expressions of interest (EoI) for resolution applicants was first published in February 2020 and subsequently revised several times. The submission of EoI was closed on 31 July 2020. The Resolution Professional has received six EoI from interested parties. 
 
International Asset Reconstruction Company, N S Software and Harsha Vardhan Reddy have also submitted the EOI, but were found ineligible. 
 
International Asset Reconstruction Company has not submitted the undertaking under section 29A of Insolvency and Bankruptcy Code (IBC) in the required format on stamp paper duly signed, stamped and notarised. It will become eligible once the required undertaking is furnished on or before 8 August 2020. 
 
N S Software and Harsha Vardhan Reddy are unlikely meet the criteria of having minimum net worth (Rs 500 crore) or asset under management (Rs 2,000 crore) or committed funds (Rs 250 crore) at the end of March 2019. 
 
Any objection to inclusion or exclusion of a prospective resolution applicant in the provisional list may be made with supporting documents within five days from the date of issue of the provisional list i.e. by 8 August 2020. 
 
Its affairs, business and assets are being managed by the Resolution Professional Abhay N Manudhane appointed by the National Company Law Tribunal, Mumbai Bench, Mumbai, vide order dated 20 August 2019.
 
Post Your Comments
 
 
   
 

 

 
  
Sign up to start your free trial

Are you...



REGISTER AND GET STARTER KIT ABSOLUTELY FREE!

Free access to Project News and Analysis

Project and Tender Alert in your mailbox

Explore the largest Database on Projects for free

Be part of Online Projects Community

User login
Start Exploring

Subscribe to any of our premium plans to

Access to complete information on 43000+ projects

Use our Notification service for instant update on projects and tenders

Closely monitor your opportunities with "WORKSPACE"

Use our online platform for promotions of your products and services