DLF, 3C likely to sell Noida IT park to IDFC for Rs 500cr
DLF and The 3C Company are likely to sell their IT Park in Noida to Infrastructure Development Finance Company (IDFC) for about Rs.500 crore.
DLF and The 3C Company are likely to sell their IT Park in Noida to Infrastructure Development Finance Company (IDFC) for about Rs.500 crore.
The Punjab and Haryana High Court has restrained DLF from selling or creating third-party rights in one of its towers located in DLF’s Horizon Centre, earlier known as City Centre, in Gurgaon.
DLF has sold a 28-acre plot in Gurgaon to M3M India for Rs.440 crore, in the first among many such big-ticket sales it has lined up this fiscal to bring down mounting debt.
DLF is planning to move the Competition Appellate Tribunal by early next week, to appeal against the Competition Commission of India’s (CCI) order imposing Rs.630-crore penalty on the firm.
The competition watchdog Competition Commission of India (CCI) on Tuesday, August 30, found realty developer DLF guilty of abusing its dominance at one more project.
Backed by the Competition Commission of India (CCI) penalty of Rs 630 crore on DLF, for “unfair trade practices” and “abuse of market dominance”, the Belaire Owners’ Association has suddenly become self-styled crusaders against developers.
DLF, India’s largest real estate company, is in talks with IDFC to sell the entire 70% stake it holds in DLF IT Park, Noida.
It seems the Competition Commission of India (CCI) ruling on the DLF to pay penalty has opened the can of worms.
DLF plans to reduce its debt by Rs.2,500-3,000 crore by the end of this financial year, according to Group Executive Director Rajeev Talwar.
Aman Resorts, the chain of luxury resorts owned by DLF may be sold for more than $400 million, according to the sources.