DLF Conferred Best Global Developer Award For 2009 By Euromoney

General | By mahendra | 2009 Trackbacks (0) Add comment   

DLF Ltd has been conferred the Best Global Developer Award for 2009 by Euromoney magazine at Euromoney’s Fifth Annual Real Estate Awards - the most prestigious awards in global real estate. Further, DLF has also won the awards for Best Developer in Asia and Best Developer in India. The award ceremony was held in London amidst the senior management of leading global leaders. DLF won the honour for the best global developer services even with tough competition from other nominations, such as CapitaLand and ProLogis.Commenting on the receipt of the award, K P Singh, chairman, DLF Ltd, said, “There is tremendous prestige and honour attached to these awards as they acknowledge the best of the best in the real estate industry. To be named as the best developer, not just in India, but across the globe, is definitely an achievement. It fortifies our vision to be a world - class real estate developer and provide best quality developments.”

Euromoney is the world’s leading financial markets magazine. Clive Horwood, editor of Euromoney, said, “In an increasingly challenging financial environment, the winners of the 2009 Euromoney Real Estate Awards are those that exhibited the ability to react at speed, innovate, and make best use of the inherent strengths of their organisation. Through the real estate poll, the market has recognised the achievements of these institutions in the face of difficult market conditions, which is why the awards are so richly deserved.”Euromoney’s annual Real Estate Survey canvassed the opinions of real estate developers, advisors, financial institutions, investors and end-users worldwide, who were asked to name which firms they thought were best at providing various real estate products and services in their market in the last 12 months. While DLF was accorded third position in these awards last year, it moved to being named the best global developer this year.

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IL&Amp;FS Chief Takes Over As Maytas Infra Chairman

General | By mahendra | 2009 Trackbacks (0) Add comment   

A month after a Company Law Board ordered the handing over of the erstwhile Teja Raju promoted Maytas Infra to IL&FS, its chairman Ravi Parthasarathy finally took over the reins of Maytas Infra as chairman on Tuesday. Parthasarathy takes charge following completion of the transition process as per SEBI guidelines with effect from September 29. The government has also recalled two out of its four nominees from the Maytas Infra board with effect from Tuesday. While K Ramalingam and OP Vaish have been recalled, Ved Jain and Anil Agarwal will continue to remain on the board of the company.

With this, IL&FS has formally taken over as the new promoter of Maytas Infra, which was being run by government -appointed board comprising chairman K Ramalingam and three other directors since March 2009. In the aftermath of the Satyam scam, the operations of Maytas Infra, then promoted by Ramalinga Raju's elder son Teja Raju, had come to a grinding halt. The CLB had in its order issued last month to hand over the company to IL&FS, had ordered Maytas Infra vicechairman and CEO Teja Raju,as well as his family friend B Narasimha Rao to step down from the company's board. Since then IL&FS had made an open offer in early September to acquire an additional 20% stake in the company for a price of Rs 112.80 per share and hike its stakeholding in Maytas to 57.1%. IL&FS already holds 37.1% stake in Maytas Infra as the Rajus had pledged the stake with the infrastructure financing firm to raise funds in October 2007 soon after the company was listed. htttp://www.maaproperties.com

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