•  •  Dark Mode

Your Interests & Preferences

I am a...

law firm lawyer
in-house company lawyer
litigation lawyer
law student
aspiring student
other

Website Look & Feel

 •  •  Dark Mode
Old Frontpage Layout

Save preferences

“Kotak Realty Fund, a part of Kotak Investment Advisors, has invested Rs. 240 crore in an under-construction shopping mall in Chennai and Rs. 80 crore in an ongoing office project in Mumbai from its $250 million offshore fund,” reported Livemint. Both the deals have been funded through debt financing by the issue of listed, secured, non-convertible, redeemable debentures by C&J Corporate Park, a group entity of National India Bullion Refinery to Kotak Realty.

J Sagar Associates (JSA) acted for Piramal Enterprises which invested Rs 65 crores in the development of a residential-cum-commercial project of around 630,000 square feet on Bangalore’s Sarjapur Road, Bangalore by Krishna E Campus, which was advised by Wadia Ghandy.

JSA Bangalore partners Vivek Chandy, Raj Ramachandran and Malini Raju, with senior associate Asok Chacko Thomas and associate Lalu John Philip assisted Piramal.

Krishna E Campus, which is an affiliate of KMB Estates, was advised by Wadia Ghandy Bangalore partner Ankit Majmudar, who is due to join Platinum Partners early next year.

The deal involved advice on title, investment and due diligence. Chandy commented: “The transaction was quite interesting as the same involved corporate restructuring of KECPL and exit of one of the promoters at the same time as the investment was being made.”

Khaitan & Co partner Siddharth Shah has been included on the Bombay Stock Exchange’s (BSE) advisory group on real estate investment trusts (REIT) alongside 10 representatives of various banks, real estate and financial services companies, according to the PTI.

REITs are aimed at attracting long-term funds to the cash-strapped realty sector from both foreign as well as domestic investors.

It is hoped that after the newly announced budget’s exemption from capital gains tax to popularise REITs, they will bring in around $10bn of foreign funds into the realty sector by the end of this fiscal.

Luthra & Luthra advised Max India’s year-old subsidiary arm Antara Senior Living in setting up a Dehradun-based living community for senior citizens.

Latest comments