Nitesh shetty estate wife swap
Nitesh Estates also plans to raise up to Rs crore of mezzanine capital or structured debt for three to four residential projects, which will be eventually..
Patel Estate Road, Jogeshwari (W), Mumbai – India.
Yes Bank likely to take over Ritz Carlton for non-payment of Rs 300 crore loan
Mumbai-headquartered Yes Bank is mulling taking over the ownership of Ritz Carlton, the luxury five-star hotel located in Bengaluru, citing non-payment of loans worth Rs 300 crores.
The hotel was developed under the banner of NEL Holdings South Ltd.
If Yes bank were to acquire the property, it may sell it to a new buyer after it files a petition before the National Company Law Tribunal (NCLT), reports Mint.
NEL Holdings South Ltd, formerly known as Nitesh Estates, is a venture founded by Nitesh Shetty, who was once considered to be a real estate mogul.
Over time, and a few bad investments later, the fortune built by Shetty seems to be standing on feeble grounds. The realtor group is not only grappling with banks and creditors due to non-payment of loans, but also entangled in several litigations.
Yes Bank, in 2020, declared the loans payable to NEL Holdings as non-performing.
Late last year, the ban