In a significant ruling, the National Company Law Tribunal dismissed Chronos Properties’ bid of Rs 1,080 crore for the coveted Bandra Kurla Complex, as held by IL&FS. The tribunal upheld IL&FS’s right to modify the bid amount, prompting Chronos to provide a performance guarantee within the next month. Previously, IL&FS had attempted to withdraw the bid, citing various compliance issues.
NCLT dismisses Chronos Properties’ ₹1,080 crore bid for IL&FS flagship BKC property
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