Adani Properties has secured approval from the National Company Law Tribunal (NCLT) in Mumbai to acquire two key assets of the now-insolvent Housing Development and Infrastructure (HDIL) under India’s Insolvency and Bankruptcy Code. The acquisition includes “Inspire BKC,” a commercial property in the Bandra‑Kurla Complex, and a land parcel in Kalyan‑Shahad on Mumbai’s outskirts . Adani was the sole bidder with IBC‑compliant resolutions for both assets. The plan for Inspire BKC is valued at ₹3 crore (₹2.85 crore to creditors; ₹15 lakh to CIRP costs), while the Shahad land was formally valued at ₹89.66 crore (liquidation at ₹62.76 crore); industry experts suggest the two together could be worth over ₹2,000 crore . The Mumbai NCLT bench approved these plans under Section 31 of the IBC, following a 66.08% creditor vote from November 2022. As part of the terms, Adani must maintain performance guarantees of ₹5 crore for each project and will continue the existing Slum Rehabilitation Authority project at BKC through subsidiary Budhpur Buildcon In the broader context, HDIL, promoted by the Wadhawans, has been under insolvency since 2019 with liabilities totalling around ₹7,789 crore. Lack of interest led to the initiative of project‑wise resolution plans, resulting in the division into ten verticals. The current approvals pertain to verticals V and IX .

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