Indiabulls

Blackstone to acquire 50% stake in Indiabulls Real Estate for Rs 4,800 crore

MUMBAI: US-based private equity giant Blackstone Group is set to acquire the remaining 50% stake in Indiabulls Real Estate’s commercial properties for around Rs 4,800 crore, said three persons with direct knowledge of the development. The deal is pegged as one the country’s largest real estate portfolio transactions. This will give Blackstone full control of the portfolio and further strengthen its...

Plea in SC for action against Indiabulls Housing for misappropriating 98,000 crore

NEW DELHI: A plea was filed in the Supreme Court Monday seeking legal action against Indiabulls Housing Finance Limited (IHFL), its Chairman and directors for alleged misappropriation of Rs 98,000 crore of public money. The petition alleged that money worth thousands of crores were siphoned off by Sameer Gehlaut, the chairman of the firm, and the directors of Indiabulls for their personal use. Abhay Yadav,...

Gurugram: Indiabulls Centrum Park buyers got flats, but have no water and power connection

Hundreds of homebuyers of the Indiabulls Centrum Park project in Sector 103, who got delivery of their homes after a five-year delay, are living without adequate electricity, water and security arrangements. Launched in 2009 by Indiabulls Real Estate Ltd, the project was completed in 2018. Residents have complained that the internal sector roads are in bad shape and the society has no water connection from...

Seeking realty business exit, Indiabulls sounds out ally Blackstone, others

MUMBAI: The Indiabulls Group is believed to have sounded out joint venture partner Blackstone and other leading players such as Godrej Properties to offload its stake in Indiabulls Real Estate (IBREL). Distancing the group from realty is expected to improve the chances of obtaining regulatory approval for the proposed merger of Indiabulls Housing Finance with Lakshmi Vilas Bank (LVB). “Blackstone...

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