IL&FS moves tribunal to scrap BKC HQ office sale

IL&FS has petitioned the NCLT to dismiss Chronos Properties' plea regarding the BKC headquarters sale. IL&FS argues Chronos, backed by Brookfield, breached deal terms by failing to renew a mandatory performance guarantee for its Rs 1,080-crore bid. The dispute arose after IL&FS sought a revised consideration of Rs 1,296 crore, prompting Chronos to seek a stay on any third-party sale.

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