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Sahara seeks Supreme Court approval to sell properties to Adani

**Sahara Seeks Supreme Court Approval to Sell Properties to Adani**

*By Mudit Dube | September 29, 2025, 04:54 PM*

Sahara India Commercial Corporation Limited (SICCL) has filed a plea in the Supreme Court seeking approval to sell several key properties, including Amby Valley in Maharashtra and Sahara Saher in Lucknow. The proposed buyer is Adani Properties Private Limited. The plea, submitted through advocate Gautam Awasthi, has been listed for hearing and is expected to be taken up on October 14.

**Sahara’s Long Journey of Asset Liquidation**

The plea outlines SICCL and the Sahara Group’s extensive efforts to liquidate various movable and immovable assets over time. The proceeds from these asset sales have been deposited into the SEBI-Sahara Refund Account. Out of a total principal amount of ₹24,030 crore, the Sahara Group has realized approximately ₹16,000 crore through the sale and liquidation of their assets.

**Challenges in Liquidation Process**

The petition highlights the Securities and Exchange Board of India’s (SEBI) inability to liquidate Sahara’s assets despite engaging reputed estate brokerage firms. It emphasizes that deposits into the SEBI account were made solely through the Sahara Group and SICCL’s efforts.

Following the death of Sahara Group’s chief, Subrata Roy, in November 2023, the group lost its principal decision-maker. The plea notes that Roy’s family members were not involved in the day-to-day business operations or management of the Sahara Group.

**Decision to Liquidate Assets**

To safeguard investors’ interests, the family has decided to accelerate the liquidation of the group’s assets at the maximum possible value. This move aims to comply with court orders, discharge Sahara Group’s liabilities, and resolve ongoing contempt proceedings.

**Significant Property Sale Deal**

The plea requests the Supreme Court’s approval for the sale of 88 properties, as per a term sheet dated September 6 between SICCL and Adani Properties. The deal represents a major breakthrough by unlocking substantial value from Sahara’s key immovable assets while ensuring adherence to financial obligations dictated by court orders.

On September 12, the Supreme Court had authorized the release of ₹5,000 crore from the ₹24,030 crore deposited by the Sahara Group to repay dues owed to its depositors.

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*Sahara’s proposed property sale to Adani marks a critical step in the group’s ongoing efforts to fulfill its financial responsibilities and conclude prolonged legal proceedings.*
https://www.newsbytesapp.com/news/business/sahara-seeks-supreme-court-nod-to-sell-properties-to-adani/story

This Bengaluru-based company wants to raise ₹1,000cr via IPO

Indo MIM to Raise ₹1,000 Crore Through Initial Public Offering (IPO)

Indo MIM has announced plans to raise ₹1,000 crore via an initial public offering (IPO) that will comprise a fresh issue of equity shares. In addition to the fresh issue, shareholders will offer an Offer for Sale (OFS) of 12.97 crore equity shares.

Details of the Offer for Sale (OFS)

The shareholders participating in the OFS include prominent investors such as Green Meadows Investments Ltd, Anuradha Koduri, John Anthony Dexheimer, and the Indian Institute of Technology Madras. This move provides an opportunity for these stakeholders to divest a portion of their holdings in the company.

Pre-IPO Placement

The company is also considering a pre-IPO placement of equity shares worth up to ₹200 crore. If this placement is successfully completed, the amount raised will be adjusted against the fresh issue size accordingly.

Utilization of Funds

Indo MIM plans to utilize ₹720 crore from the IPO proceeds for debt repayment. The remaining funds will be directed toward general corporate purposes to support the company’s growth and operational needs.

About Indo MIM

Founded in 1996, Indo MIM specializes in manufacturing precision engineering components using advanced Metal Injection Molding (MIM) technology. Besides MIM, the company employs investment casting, precision machining, ceramic injection molding, and metal 3D printing processes. Indo MIM caters to a diverse clientele across various sectors, including automotive and aerospace.

Financial Highlights and Issue Details

In the fiscal year 2025 (FY25), Indo MIM reported revenues from operations of ₹3,329 crore and a profit after tax of ₹423 crore. While the company does not have any listed peers in India, it does have a global peer, Jiangsu Gian Technology Co Ltd, which is listed on the Shenzhen Stock Exchange in China.

The IPO is being managed by a consortium of leading financial institutions. HDFC Bank, Axis Capital, ICICI Securities, Kotak Mahindra Capital, and SBI Capital Markets are appointed as the book-running lead managers for this issue.
https://www.newsbytesapp.com/news/business/indo-mim-files-1-000cr-ipo-papers/story

NTPC Ltd. paid Final Dividend of Rs. 3,248 Crore for the FY 2024-25

NTPC Ltd. has paid a final dividend of Rs. 3,248 crore on 25th September 2025 for the financial year 2024-25. This payment represents 33.50% of the paid-up equity share capital of the company.

Gurdeep Singh, Chairman and Managing Director (CMD) of NTPC, along with the Board of Directors, presented the final dividend payment advice to the Hon’ble Minister of Power and Housing & Urban Affairs, Manohar Lal. The event was held in the presence of Pankaj Agarwal, Secretary (Power), and senior officials from the Ministry of Power (MoP) and NTPC.

This final dividend is in addition to the first interim dividend of Rs. 2,424 crore and the second interim dividend of Rs. 2,424 crore, which were paid in November 2024 and February 2025, respectively.

The total dividend paid by NTPC for the financial year 2024-25 amounts to Rs. 8,096 crore. This translates to a dividend rate of Rs. 8.35 per equity share, each having a face value of Rs. 10.

Notably, this marks the 32nd consecutive year that NTPC Ltd. has paid a dividend, reflecting the company’s consistent commitment to rewarding its shareholders.
https://www.freepressjournal.in/corporate-gallery/ntpc-ltd-paid-final-dividend-of-rs-3248-crore-for-the-fy-2024-25

NBCC holds 65th Annual General Meeting

**NBCC (India) Ltd Showcases Strong Growth and Strategic Vision at 65th AGM**

NBCC (India) Ltd, the State-owned Navratna Enterprise, is poised to capitalize on the increased government impetus towards infrastructure development. At the 65th Annual General Meeting (AGM) held on 24th September 2025 at East Kidwai Nagar, K.P. Mahadevaswamy, Chairman and Managing Director of NBCC (India) Limited, highlighted the company’s key achievements during the financial year 2024-25. He also outlined the various opportunities the company is pursuing in both domestic and international markets.

### Leadership and Attendance

The meeting was attended by other members of the NBCC Board, including Saleem Ahmad, Director (Projects); Suman Kumar, Director (Commercial); Anjeev Kumar Jain, Director (Finance); and Government Nominee Directors Sanjeet, Joint Secretary & Financial Advisor, Ministry of Housing and Urban Affairs, Government of India; Ravi Kumar Arora, Joint Secretary (Land & Estates). Independent Directors Bhimrao Panda Bhosale, Deepak Singh, Rajeev Kumar, Vishal Puri, and Smt. Deepti Gambhir, Company Secretary, NBCC, were also present.

### Financial Performance

NBCC posted a consolidated revenue of Rs 12,038.57 crore, marking a 15.68% year-on-year growth. The consolidated Profit After Tax (PAT) reached Rs 557.42 crore, representing an impressive 34.52% increase.

On a standalone basis, revenue stood at Rs 8,725.36 crore. PAT for the standalone entity rose 38.26%, touching Rs 476.11 crore. The company’s consolidated order book surged to Rs 1,20,533 crore, reaffirming NBCC’s leadership in redevelopment, real estate, overseas ventures, and project management consultancy (PMC) works.

### Key Highlights from the CMD’s Address

– **Record Dividend and Bonus Shares:** NBCC declared its highest-ever dividend of Rs 180.90 crore (@67%) and issued 90 crore bonus equity shares in the ratio of 1:2, underscoring its commitment to shareholder value creation.

– **New Business Wins:** The company secured new contracts worth Rs 23,250 crore.

– **Flagship Redevelopment Project Sales:** NBCC achieved complete commercial sales at its flagship redevelopment projects — World Trade Centre, Nauroji Nagar (Rs 13,409 crore), and Downtown, Sarojini Nagar (Rs 1,391 crore), aggregating nearly Rs 14,800 crore.

– **Amrapali Project Progress:** Under the Amrapali mandate, NBCC successfully completed 25,500 housing units and initiated further sales expected to generate Rs 2,353 crore.

– **Global Expansion:** Strengthening its international footprint, NBCC is executing its largest-ever overseas EPC project — 2,000 social housing units in Hulhumale, Maldives, valued at $130 million. This landmark project, funded through EXIM Bank of India under the Government of India’s NEIA framework, symbolizes strong India–Maldives cooperation. The recent inauguration by the Hon’ble Prime Minister of India and the Hon’ble President of the Republic of Maldives highlights NBCC’s strategic importance and ability to deliver world-class socially impactful infrastructure globally.

– **New Markets:** The company has expanded operations with a subsidiary in Dubai and is actively exploring opportunities in Uzbekistan and the UAE.

### Focus on Sustainability and Innovation

Anchored in sustainability and digital transformation, NBCC advanced green construction practices and adopted centralized project monitoring systems. The company invested significantly in workforce development, conducting 90 training programmes during the year.

Its Corporate Social Responsibility (CSR) initiatives continued to create positive impact across education, healthcare, sanitation, renewable energy, and skill development sectors.

### Recognition and Awards

NBCC’s excellence was recognized with an ‘Excellent’ MoU rating from the Department of Public Enterprises (DPE), securing 2nd rank among all Central Public Sector Enterprises (CPSEs) and 1st in its sector with a record score of 98.50.

Several iconic projects such as Bharat Mandapam, Vanijya Bhawan, IIM Sambalpur, and AIIMS Bilaspur earned prestigious GRIHA ratings. Awards in digital transformation and cybersecurity further validated NBCC’s growing credentials in technology adoption.

### Commitment to Viksit Bharat Vision

Aligned with the Government of India’s vision for a developed (‘Viksit Bharat’), NBCC remains steadfast in creating sustainable, inclusive infrastructure and delivering long-term value for its stakeholders as a trusted arm of the government.

### Appreciation and Acknowledgment

In conclusion, CMD K.P. Mahadevaswamy expressed heartfelt gratitude to the Government of India, especially the Ministry of Housing and Urban Affairs, Ministry of Finance, Department of Public Enterprises, DIPAM, SEBI, Ministry of Corporate Affairs (MCA), as well as all Central and State Government agencies, the Comptroller and Auditor General (C&AG) of India, esteemed clients, valued customers, dedicated employees, and stakeholders. Their continuous support and cooperation have been instrumental in driving NBCC’s progress and success.

NBCC continues to strive for excellence in its core businesses and remains committed to delivering utmost value to its shareholders.

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*For more updates and detailed information, stay connected with NBCC (India) Limited.*
https://www.freepressjournal.in/corporate-gallery/nbcc-holds-65th-annual-general-meeting