Ds Kulkarni Developers News Today

Ashdans bid beat eight other bidders including data centre company Cyfuture India and Jai Corp vice chairman Virendra Jain among others after creditors scrutinised the value of bids received.

Pune-based real estate developer Ashdan Properties emerges as the highest bidder to take over the ₹14,000 crore debt of Rolta India with a bid valued at close to ₹760 crore on a net present value (NPV) basis. The bid beats eight other bidders including data centre company Cyfuture India and Jai Corp vice chairman Virendra Jain.

Observing that the No Objection Certificate (NOC) was granted for the construction and not the builder, the Bombay High Court directed the Indian Airforce authorities to reconsider a builder’s...

D S Kulkarni Developers: Apart from Ashdan Properties, the consortium also includes Classic Promoters & Builders and Atul Builders. The resolution professional had received three bids for the resolution from entities including Mantra Properties & Developers and Hemendra Shah-led consortium.

The National Company Law Tribunal has approved a consortium led by Ashdan Developers for the resolution plan of D S Kulkarni Developers. The consortium plans to pay Rs 826.30 crore to the stakeholders of the debt-laden real estate developer. The plan includes upfront payment, non-convertible debentures, and the provision of flats to homebuyers. The plan is approved by over 83.3% of the lenders represented by the committee of creditors.

Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs2 lakh on DS Kulkarni Developers Pvt Ltd for the companys failure to create a debenture redemption reserve (DRR) to protect non-convertible debenture (NCD) holders.

The first meeting of the committee of creditors (CoC) of Srei Equipment Finance Ltd (SEFL) is scheduled to be held on 2nd November at Marriott in Kolkata under regulation 19 of the Insolvency and Bankruptcy Rules (IBC) 2019.

Over the past two days, confused and angry DHFL investors were flooding social media with complaints of not receiving payments as per their claims. Many complained of having received a raw deal by receiving a far lower amount (as compared to what they were anticipating).