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Why a minority investor wants to stall the long pending Indiabulls Real Estate-Embassy Group merger

Why a minority investor wants to stall the long pending Indiabulls Real Estate-Embassy Group merger
Why a minority investor wants to stall the long pending Indiabulls Real Estate-Embassy Group merger
Illustration by Muhabit ul haq via AI

Synopsis

A minority investor from Vijaywada with over 20,000 shares has questioned the due-diligence, besides non-disclosure of material information relating to the scheme of merger by IBREL. Notably, other shareholders, CCI, NCLT Bangalore have approved the merger. On March 1, 2023, NCLT Chandigarh will hear the case.

In January 2020, Indiabulls Real Estate Ltd (IBREL) first announced its proposed merger with the entities of the Embassy Group. The proposed merger is to be executed through a cashless structure where two subsidiaries of Embassy Group namely, NAM Estates and Embassy One Commercial Property Developments, will swap shares with IBREL. The resulting combined entity is to be named Embassy Developments Limited. IBREL’s merger proposal received the
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The Economic Times