Sawasdee Group, a Noida-based real estate group, has acquired 60,000 sq meters (approx) of the industrial plot in Sector 80, Noida from Moser Baer India with an investment of Rs 72 crore, the company said in a media release.
Pradeep Kumar Agrawalla, Chairman, Sawasdee Group said, “We have already paid 25% of the value of the auctioned plot and will pay the rest amount as per the terms of the auction. The entire Investment would be self-funded and we will be raising no debt to finance the project.”
The land was bought through online bidding. Due to financial crisis in Moser Baer India, NCLT ordered its liquidation and the land was put to auction through liquidator firm, facilitating the entire e-auction process.
Source: Economic Times, Delhi/NCR