New Delhi: The Adani Group has got a house of 1, thousand crore rupees in the posh area Lutyens of Delhi for only 400 crores. The built-up area of this sprawling bungalow spread over 3.4 acres is 25,000 square feet. There are 7 bedrooms, 6 dining rooms, a study room and staff quarters in 7,000 square feet. It is also being said that there is a lot of greenery around this bungalow. This two-story bungalow is on Bhagwan Das Road. According to the Economic Times report, the bungalow was previously owned by Aditya Estates Private Limited. But the Adani Group's bid has been approved in the insolvency process against him.
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According to the information received, Infosys co-founder Narayana Murthy also wanted to buy this bungalow. A few years ago, Aditya Estates valued the bungalow at Rs 1,000 crore. The report said that the National Company Law Tribunal (NCLT) has approved the proposal of Adani Properties Private Limited, a company of Adani Group, on 14 February 2020. 93 percent of the lenders of Aditya Estates were also in favor of Adani's bid. According to NCLT documents, the price of the bungalow was estimated at only Rs 265 crore in the insolvency process. Adani Properties will also have to pay a guarantee of Rs five crore and a conversion charge of Rs 135 crore.
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The history of the bungalow that Adani bought is of the British era. It was purchased in 1921 by Lala Sukhbir Sinha, a member of the United Provinces Legislative Council. Earlier there were Foreign officials in the bungalow. There was also a facility for staff to stay here. Aditya Estates bought it in 1985. ICICI Bank UK had filed for bankruptcy against Aditya Estates on 26 February last year to recover the debt.