Tag: Brookfield

CommercialLatest Stories

Chronos Properties extends ₹148 crore bank guarantee for IL&FS office

NEW DELHI: Brookfield-backed Chronos Properties has successfully renewed a ₹148 crore bank guarantee, keeping its bid alive for the prime Bandra Kurla Complex property of Infrastructure Leasing and Financial Services (IL&FS). In an affidavit submitted to the National Company Law Appellate Tribunal (NCLAT), Chronos announced that on December 19, 2025, it provided three demand drafts totaling ₹148 crore to the registrar at the Mumbai bench of the National Company Law Tribunal. Previously, on December 5, NCLAT instructed Chronos Properties to renew its bank guarantee within a month to remain eligible as a bidder for the IL&FS Financial Centre at BKC,…

CommercialLatest Stories

360 ONE Real Assets Platform Secures ₹2,300 Crore Funding

NEW DELHI: 360 ONE Asset’s real assets platform has successfully raised about ₹2,300 crore through its category II alternative investment fund (AIF) in just four months since launching its fundraising efforts. The fund focuses on infrastructure and income-generating commercial real estate. Nearly all of its committed capital has already been deployed, with the remaining expected to be invested in the upcoming months. Key deployments include partnerships with Knowledge Realty Trust, Vertis Infra Trust, Maple Infrastructure Trust, and Brookfield’s Bluegrass Business Park. The real assets platform has attracted investments from its proprietary network of UHNIs and family offices across India, bringing…

Latest StoriesRegulatory

NCLAT Orders Chronos Properties to Renew Bank Guarantee for IL&FS

NEW DELHI: On Friday, the National Company Law Appellate Tribunal (NCLAT) instructed Brookfield-backed Chronos Properties to renew the bank guarantee for the acquisition of the flagship Bandra Kurla Complex property from Infrastructure Leasing and Financial Services Ltd (IL&FS). In an interim order, NCLAT also prohibited the debt-laden IL&FS group from creating third-party rights on its headquarters until the appeal is resolved. NCLAT emphasized the necessity for Chronos to renew the Performance Bank Guarantee to avoid disqualification in acquiring the IL&FS headquarters. Both parties have been directed to finalize pleadings, file replies, and rejoinders by January 16, with the next hearing…

Latest StoriesRegulatory

NCLT Rejects Chronos Properties’ ₹1,080 Cr Bid for IL&FS BKC

MUMBAI: The National Company Law Tribunal (NCLT) has rejected the ₹1,080 crore bid from Brookfield-backed Chronos Properties for the acquisition of Infrastructure Leasing and Financial Services Ltd (IL&FS)’s flagship Bandra Kurla Complex property. On November 28, the NCLT’s Mumbai Bench dismissed Chronos’s application to enforce its bid for the IL&FS Financial Centre located at BKC. The tribunal upheld IL&FS’s right to amend the transaction consideration. It confirmed that the Letter of Intent (LoI) dated March 21, 2022, is a binding contract between the parties, but noted that it includes provisions allowing IL&FS to unilaterally modify the agreement, including financial terms,…

CommercialLatest Stories

IL&FS aims to block Brookfield’s bid for finance center

MUMBAI: Brookfield, a leading global alternative investment firm, is back in the spotlight along with the historic IL&FS building, which has played a significant role in establishing BKC as Mumbai’s financial district. The bankrupt financier that sold the property to a Brookfield-affiliated entity is now seeking to overturn its recent court decision, alleging that the global asset manager did not meet the bid’s requirements and that the bid security has expired. Sources within the finance industry suggest that rising commercial property values in BKC have rendered Brookfield’s original offer for the IL&FS Centre—formerly occupied by HDFC—less appealing, as highlighted in…