Malhotra Group Acquires the Emerald Lands Development in Ludhiana, Punjab

Malhotra Group, a UK-based corporation with commercial interests in property, care homes, and leisure throughout the UK, has purchased a stalled project in Ludhiana, Punjab, for approximately INR 150 crore.

The 300-acre Emerald Lands (India) project was subject to insolvency proceedings, and the National Company Law Tribunal (NCLT) endorsed the resolution plan of Malhotra Group after a committee of creditors voted in favour of it.

Through FDI, the corporation will invest between 1,200 and 1,500 crore in the development of the township.