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economy
SC directs Unitech to cooperate with forensic auditors

NEW DELHI: The Supreme Court on Friday pulled up beleagured real estate major Unitech for not providing data to forensic auditors examining alleged financial irregularities.The apex court said that data of even former employees must be given to the auditors within two weeks.However, the Supreme Court allowed Unitech to sell the 24-acre land parcel in…

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economy
NBCC, Suraksha Group bid to acquire beleaguered Jaypee Infratech

MUMBAI: State-owned NBCC Ltd has placed a bid to acquire beleaguered realty developer Jaypee Infratech and complete its stalled housing projects in Noida, Uttar Pradesh. Apart from NBCC, the other bid has been made by Suraksha Group, said two persons familiar with development.In a regulatory filing, NBCC NBCC said it has submitted the bid to…

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economy
Lodha’s London properties additional divestment to address March 2020 bond maturity, Moody’s

NEW DELHI: Additional stake divestment by Lodha Developers in its London development arm Lodha Developers UK is expected to generate funds to address the March 2020 maturity of its bond, said international ratings agency Moody’s Investors Services.Lodha Developers sale of 28% of equity in Lodha Developers UK (LDUKL) allows Lodha Developers to monetize its stake…

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