IL&FS gets NCLT approval to sell HQ to Brookfield

Brookfield's affiliate company Chronos Properties has emerged as the successful bidder to acquire the marquee property for over ₹1,080 crore. IL&FS has already received 10% of the total consideration and the deal is expected to be concluded in FY23. The deal is part of resolutions that the government-appointed board has filed with the NCLT. This deal was announced by the then chairman of the board Uday Kotak prior to his tenure ending on April 2.

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