Adani Group to Sell $500M Ambuja Cement Shares

Arkade Developers to Redevelop Three Housing Projects in Mumbai

Arkade Developers is set to redevelop three housing projects in Mumbai, covering a total area of 20,232 square metres (approximately five acres) across Andheri East, Malad West, and Borivali West. These projects are expected to deliver a combined saleable carpet area of approximately 5.85 lakh square feet, generating an estimated turnover of Rs 21.50 billion. Amit Jain, the chairman and managing director of Arkade Developers, highlighted the company's strong pipeline of over eight upcoming projects across the Mumbai Metropolitan Region (MMR). He also noted that the company anticipates an incr..

SIT Finds over 100 Forged Maps used to Legalise Mumbai coast Properties

A Special Investigation Team (SIT), constituted following an order from the Bombay High Court, has uncovered a land scam involving widespread tampering of property records. The scam allegedly facilitated the conversion of Coastal Regulation Zone (CRZ) and No Development Zone (NDZ) lands into developable plots along the Mumbai coastline. Four individuals, including two retired government employees, were arrested last week in connection with the scam, which is linked to alterations in at least 102 property maps along the coast. Officials have also summoned 18 government staff members from the B..

Nuvoco Vistas Corp Wins Bid for Vadraj Cement

Cement maker Nuvoco Vistas announced that it has emerged as the successful applicant for Vadraj Cement, which is currently undergoing a corporate insolvency resolution process. The resolution plan submitted by Nuvoco has been approved by the Committee of Creditors (CoC), and a Letter of Intent (LOI) has been issued, according to a statement by Nuvoco Vistas Corp. Although the financial details were not disclosed, the company mentioned that the transaction would be implemented by Vanya Corporation, a wholly-owned subsidiary, and the company plans to fund the transaction without significantly i..