DLF Settles Disputes With Hubtown Group, Receives ₹1 Billion As First Tranche

DLF Ltd. on Friday said it has reached a final settlement for ongoing litigations and arbitrations with Hubtown Ltd., Chinsha Property Pvt. Ltd., Twenty Five Downtown Realty Ltd., and others. As part of the consent terms, Twenty Five Downtown Realty will pay DLF a settlement amount in tranches over two years.

The real estate major has already received the first tranche of ₹1 billion, it said in an exchange filing.

To secure the remaining dues, DLF said a registered indenture of mortgage has been created over 150,000 square feet of RERA carpet area in the project being developed by Twenty Five Downtown Realty in Mumbai.