Bandra Kurla Comolex

NCLT dismisses Chronos' ₹1,080 cr bid for IL&FS flagship BKC property

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 ...

Mumbai's Bandra Bay to unlock ₹1 trillion in luxury real estate potential

A report projects 8 million sq ft of luxury waterfront development worth ₹1 trillion near BKC, with leading developers including Adani Realty and Hiranandani on board

Armani/Caffe makes India debut with launch at Jio World Plaza in Mumbai

Reliance Retail launched India's first Armani cafe at Jio World Plaza in Mumbai. The upscale cafe, Italian fashion house Giorgio Armani, features designer's favourite dishes, and 52 imported wines

RBI looking for at least 50,000 sq ft office space in BKC, South Mumbai

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,

MMRDA spends Rs 53 cr on makeshift Covid-19 hospital at Mumbai's BKC

The MMRDA has informed RTI activist Anil Galgali that it spent Rs 53 crore on account of constructing the Covid hospital in BKC

From Bain to Amazon, global firms make a beeline for Bandra Kurla Complex

BKC continues to be the most sought-after micro market for BFSI (banking, financial services, and insurance) clients and recent transactions by Bain & Company and BCG are proof of this demand