Share of the two investors Property and Building Corporation & Electra Real Estate exiting PBEL City township project to be bought for about Rs 225 crore.
“Part of the money will be used to clear debt that the company had taken to buy land and for general business," one of the people said.
The Lodha Committee’s recommendations of sweeping changes in the way BCCI is managed has been welcomed by some ex-cricketers and others who are involved with the game.
The report, which deals with various aspects relating to the functioning of BCCI, will be considered by the bench headed by Chief Justice T S Thakur at a later stage.
Anywhere between $3 billion and $4 billion are either raised or close to be raised by funds that are real estate focussed.
The league kicks off on January 2, 2016. Star Sports has already signed up as the league’s official broadcast partner.
IPL franchises have released top players such as out of form Yuvraj Singh, Ishant Sharma, Virender Sehwag and Pragyan Ojha among others ahead of the 2016 season of the league.
Earlier this month, Xander Finance invested Rs 100 crore in Prateek group’s 40-acre township project in Ghaziabad’s Siddharth Vihar area.
Bollywood actor Akshay Kumar has picked up 50% stake in Premier Badminton League's Mumbai franchise Mumbai Rockets, marking his entry into the sport.
The builder has sold its 800,000 sq ft office building BPTP Crest in Gurgaon for Rs 850 crore to pay the institutional investors.
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