Axis Trustee Services News Today

DLFs wholly-owned subsidiary DLF Home Developers entered into private treaty with Axis Trustee Services and IREO Private to acquire land parcel in Gurugram for Rs 1,241 crore

NDR InvIT Managers Private Limited is the Investment Manager and Axis Trustee Services Limited is the Trustee for the NDR InvIT Trust.

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The companys promoter Anil Agarwal had pledged the mining companys stake from 2020 onwards in a bid to raise funds. According to the filing, the promoters had pledged 63.71% of shares

DLF directly or through its affiliates, intends to acquire overall rights and interest in land parcel admeasuring ~29 acres having estimated development potential of upto 7.5 million sq ft.

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Kolkata-based Jindal's plan was the only one that was submitted to the creditors till last week, as per the report. November 10 was the last date to submit the resolution plans for Future Enterprises Limited.

The admission of the application by the National Company Law Tribunal (NCLT) ensures moratorium on transactions of personal assets of the guarantor. But it does not give the resolution professional (RP) the right to take control of the personal assets of the guarantor. Following the ruling, the RP will invite claims from lenders and also validate them.

This comes at a time when Reliance Retail, owned by Mukesh Ambani, is also in the running to acquire the beleaguered company. Previously, Reliance Retail had requested an extension until 30 October to make a decision on its bid for Future Enterprises , , jindal group, reliance retail, Future Enterprises

Mukesh Ambani-controlled Reliance Retail is already in the race to acquire the company. Earlier, Reliance Retail had sought time till October 30 to take a call on its bid for Future Enterprises.