Any idea , what is the reason for postponement again .
Next hearing is on Nov 4 . Final chance for income tax dept to file response. Not sure what will happen if they file response and court decide to further hear on this matter
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Another development let’s see how nclt will take decision. Sebi has already given approval for the merger
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Next hearing is on 05th of December 2022. IMO patient investors may get rewarded handsomely on finalization of merger.
What was the reason for postponement this time round ? I think quarterly results are on 11th Nov. I hope the management gives some clarity around the merger along with the results.
It is on 21st November , pls check dates
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Along with the case of C.P.(CAA) - 14/2022 there is another case CP - 101/2022 is also seen in nclt website . For the first one next hearing is 21/11 and for next one it is 05/12 . Anyone from legal side what is meant by IA/MA
https://nclt.gov.in/case-details?bench=Y2hhbmRpZ2FyaA==&filing_no=MDQwNDExNjAwMjkzMjAyMg==
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IA/MA- Interlocutory Application/Miscellaneous Application. One which is filed in the main cases for any interim relief.
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Hi,
Management no say on this court hearing they told multiple times in past it is beyond our control. So not expecting any more information from their side. Last quarter they didn’t conduct concal, hopefully they conduct concal this quarter
Regards,
Sathish
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No announcement of concal this quarter too. Embassy side debt status still unknown past 6 month.
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Acuite Ratings & Research downgraded LT Ratings of 2905 crs of Embassy Properties Developers Pvt Ltd by 2 notch to C from BB+.
27968-RR-20221111.pdf (157.3 KB)
on 11/11/2022.
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This is getting interesting. Embassy group seems over-leveraged, and poorly run.
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Real Estate company having such credit profile is a big red flag. Further, I dont think anybody has any visbility on latest financial statements of NAM Estates. What if there are sudden surge in RPT? What are the contingent liabilities ? This casts serious doubt on the Governance. Till the clarity emerges it would be akin to speculation.
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It’s like embassy wants ibullrealestste more than ibullrealestste want embassy. As of now ibullrealestste side everything get cleaned up, ibullrealestste asset as good as they can get.
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ANY UPDATE on merge ?
Will wework india be included in the ibreal-embassy merged company after merger?
The case could not be taken up yesterday. It was listed as Item No.33 and only 30 cases could be completed by the NCLT. Next date will be given in due course.
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