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Bandra Kurla Comolex
The National Company Law Tribunal has dismissed the Rs 1,080 crore bid by Brookfield-backed Chronos Properties to acquire Infrastructure Leasing and Financial Services Ltd (IL&FS )'s flagship Bandra Kurla Complex property. The National Company Law Tribunal (NCLT), Mumbai Bench, in its order on November 28, disposed of the application filed by Chronos seeking enforcement of the Rs 1,080 crore bid to acquire the IL&FS Financial Centre at BKC. The tribunal also upheld IL&FS's contractual right to revise the transaction consideration. In its order, the tribunal held that the Letter of Intent (LoI) dated March 21, 2022, constitutes a concluded and binding contract between IL&FS and Chronos. However, the LoI contains clauses which grant IL&FS a unilateral right to amend, modify or supplement the LoI, including financial terms, under the court-approved resolution framework, the order added. The tribunal also ruled that the IL&FS letter dated August 16, 2024, which ...
The Reserve Bank of India (RBI) is planning to take on lease at least 50,000 square feet of office space in Bandra Kurla Complex (BKC) and South Mumbai. According to an Expression of Interest (EoI) floated by the RBI, the acquisition of office premises is proposed on a long-term lease basis for a minimum 40,000 square feet carpet area located in and around BKC within a radius of 5 km from its BKC office. In another EoI, the RBI said the acquisition of office premises is proposed on long-term lease basis for at least 10,000 square feet carpet area located in and around South Mumbai within a radius of 5 km from its Fort office. Both the buildings should project a professional and aesthetically pleasing appearance and should be approved for office use, the central bank added. Cushman & Wakefield India Pvt Ltd is the appointed realty consultant agency for handling the work related to taking on lease commercial office premises in Mumbai, the RBI said. Gagan Randev, Executive Director,