Housing Development and Infrastructure Limited — Others, 27-06-2025: Corporate Insolvency Resolution Process

Housing Development and Infrastructure Limited (HDIL) has announced a board meeting on the financial results for the quarter and half-year. Meanwhile, two resolution plans for Vertical V – Project BKC and Vertical IX – Shahad Maharal Lands, submitted by Adani Properties Private Limited, were approved by the National Company Law Tribunal (NCLT). Both plans were endorsed following Committee of Creditors (CoC) approvals with around 66% voting. The projects will be demerged into entities controlled by Adani Properties, which will manage operations independently. Payments under the plans to financial creditors are limited, with dissenting creditors receiving liquidation value, which is nil. Operational creditors and employees are allocated minimal payments. The resolution plans include assigning monitoring committees to oversee implementation, while no automatic approvals for related schemes or regulatory waivers are granted. The plans aim to unlock value from HDIL’s stalled assets, impacting recovery prospects for stakeholders and marking a significant step in the corporate insolvency resolution process.