Latest news with #VDPL
Business Upturn
3 days ago
- Business
- Business Upturn
Godrej Properties sells 2.5% stake in Vivrut Developers for Rs 8.63 crore in related party transaction
By Aditya Bhagchandani Published on July 1, 2025, 17:23 IST Godrej Properties Limited (GPL) has announced the sale of its 2.5% stake in Vivrut Developers Private Limited (VDPL) to Godrej Ventures and Investment Advisers Private Limited (GVAIAPL), a promoter group entity. The transaction was executed on July 1, 2025, with a total consideration of Rs 8.63 crore. According to the company's filing with stock exchanges, this sale is a related party transaction but was executed at arm's length, with the sale price determined through a fair valuation process. During the last financial year, VDPL contributed a net loss of Rs 0.16 crore, accounting for just 0.01% of Godrej Properties' total profit after tax. The net worth contribution from VDPL stood at Rs 0.17 crore, which represents 0.00% of GPL's total net worth. GVAIAPL, the buyer, is engaged in advisory services and managing, developing, and leasing real estate projects. The transaction does not fall under any scheme of arrangement and is outside the purview of Regulation 37A of SEBI's LODR Regulations. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
The Hindu
4 days ago
- Health
- The Hindu
Karnataka HC orders BBMP, govt. to clear ₹10.41 crore COVID dues to private health centres pending since 2022
The High Court of Karnataka has directed the State government and the Bruhat Bangalore Mahanagara Palike (BBMP) to pay ₹10.41 crore to two private health establishments towards the pending dues to them for providing COVID-19 testing facilities way back during 2020-2022. Two petitions Justice S.R. Krishna Kumar issued the directions while allowing the separate petitions filed by BGS Global Institute of Medical Sciences, Kengeri and Vijayalakshmi Diagnostics Pvt Ltd (VDPL), Nagarbhavi. BGS had sought directions for release of ₹4.53 crore and VDPL had sought release of ₹5.88 crore while pointing out that the authorities, though have admitted payment due to the petitioners, had said that they were unable to release the remaining amount due to pendency of enquiry before a One-Man Commission of Inquiry into the irregularities occurred during COVID-19 pandemic between 2020 and 2023. The petitioners have said that the payment of the remaining amount is pending since 2022. The BBMP had told the court that it had sought permission from the commission of inquiry to release around ₹44 crore to various establishments towards the balance amount due for providing various health services during COVID-19, but the commission had rejected their request pending inquiry. Not under inquiry However, the court said that non-payment of dues in relation to RT-PCR tests conducted by the petitioners was not the subject matter of the inquiry before the commission. 'It is clear that in the light of the undisputed/admitted fact that the BBMP had not paid the legitimate dues payable to the petitioners, in the absence of any material to show any kind of nexus or connection whatsoever between the liability of the BBMP and the inquiry commission, it cannot be said that the BBMP was not liable to pay/clear the legitimate dues payable to the petitioners,' the court said while directing release of the amount to the petitioners within six weeks.
