Housing Development and Infrastructure Limited has informed the Exchange about the Approval of Resolution Plans by Hon'ble NCLT
HDIL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Minute windows have no benchmark: there is no intraday index history to compare against.
The NCLT Mumbai Bench on June 27, 2025 approved the Resolution Plans for two of HDIL's six project verticals — Project BKC and Shahad Maharal Lands — submitted by Adani Properties Private Limited. The plans were earlier approved by the Committee of Creditors with 66.084% voting share. HDIL has been under the Corporate Insolvency Resolution Process since August 2019, with total admitted financial claims of around Rs. 7,789 crore. The resolution plan value for the BKC vertical is only Rs. 3 crore (including Rs. 15 lakh CIRP costs and Rs. 2.85 crore to creditors), against a liquidation value of nil. Adani Properties will take over the BKC project via a demerger into itself or its subsidiary, and has submitted a Rs. 5 crore performance bank guarantee. A Monitoring Committee comprising the Resolution Professional, a representative of the Resolution Applicant, and a financial creditor will oversee implementation.
For shareholders, this continues HDIL's piecemeal asset sale under insolvency, with extremely low recovery — only Rs. 2.85 crore allocated to financial creditors across billions in admitted claims — strongly signalling near-total equity wipeout. The involvement of Adani Properties in acquiring the prime BKC slum-rehab project is a significant real estate development outcome but offers no meaningful value to existing equity holders.