Scam-hit Infrastructure Leasing & Financial Services Ltd. (IL&FS) has moved the National Company Law Tribunal (NCLT) in search of to cancel the sale settlement for its headquarters in the Bandra-Kurla Complex (BKC) to Brookfield-backed Chronos Properties Pvt. Ltd. (CPPL). The latter had agreed to purchase the prime property for ₹1,080 crore and had supplied efficiency ensures of ₹108 crore for a similar.
Citing non-compliance of bidding phrases and circumstances, IL&FS said that CPPL had failed to renew the efficiency ensures, which was contractually required to stay legitimate till till signing of definitive settlement. The efficiency ensures had expired on April 16 and 17, 2025 and the settlement has change into invalid since then.
The property is now valued at about ₹2,000 crore and discovering a brand new purchaser would financially profit IL&FS.
