Updates

FSSAI Suspends Food Licence of Park Plaza Hotel, a Unit of Mahagun Hotels, Over Serious Hygiene Violations

The Food Safety and Standards Authority of India suspended the licence of Park Plaza in Shahdara, Delhi, a unit of Mahagun Hotels Pvt. Ltd., after an inspection uncovered severe hygiene and food-safety breaches.

Security Guards Lock Gates at Mahagun Meadows in Noida Sector 150 Over Two Months of Unpaid Salaries

Security and housekeeping staff at Mahagun Meadows in Noida's Sector 150 locked the society's main gates and staged a protest after going unpaid for two months, amid resident complaints of maintenance failures.

Mahagun Mezzaria Residents Petition PVVNL Over Electricity Charge Bundling and Fund Diversion Concerns

The Mahagun Mezzaria Flat Buyers Welfare Association met with PVVNL officials on 24 June 2026, urging the electricity distributor to de-link electricity charges from Common Area Maintenance fees and halt alleged diversion of prepaid collections to unauthorised builder entities. Residents also raised concerns about disconnections despite advance payments and overcharging on inflated load sanctions.

Mahagun Mywoods Residents Stage Overnight Sit-In Protest Over Maintenance Negligence in Greater Noida West

Residents of Mahagun Mywoods in Greater Noida West locked the society gates and staged an overnight protest, alleging they are paying full maintenance charges but receiving negligible upkeep and unsafe lifts.

Mahagun Group Secures ₹225 Crore from CSL Finance to Accelerate Project Delivery Across Noida Portfolio

Mahagun Group has raised ₹225 crore in fresh debt funding from CSL Finance to fast-track construction and ensure timely delivery across its ongoing Noida projects. The infusion follows the group's earlier closure of a ₹650 crore debt line linked to its Mahagun Medalleo project, which involved full repayment of principal and interest to Blackstone-backed ASK Property Fund.

Blackstone-Backed ASK Property Fund Exits Mahagun Medalleo for ₹650 Crore at 21% IRR

ASK Property Fund, backed by Blackstone, fully exited its investment in Mahagun's Medalleo project in Noida Sector 107, receiving ₹650 crore against a 2021 deployment of ₹310 crore, generating a 21% IRR. The exit also marked the complete closure of ASK's ₹1,500 crore 2018 debt fund at a 1.83x investment multiple.

NCLAT Directs Withdrawal of Insolvency Proceedings Against Mahagun After Settlement with IDBI Trusteeship

The National Company Law Appellate Tribunal (NCLAT) formally closed insolvency proceedings against Mahagun (India) after the developer reached a settlement with financial creditor IDBI Trusteeship Services on February 12, 2026. The settlement relates to a default of approximately ₹256 crore on non-convertible debentures tied to the Mahagun Manorialle project in Noida.

Mahagun Mantra-2 Buyers Stage Fresh Protest in Noida Over Three-Year Registry Delay

Homebuyers at Mahagun Mantra-2 in Greater Noida West staged a fresh demonstration in mid-February 2026, alleging that despite depositing full payment three years ago they still lack ownership rights (registry) for their flats.

Mahagun Real Estate Clears Two Legacy MCA-Registered Charges Totalling ₹13.6 Crore in January 2026

Mahagun Real Estate Private Limited satisfied two long-standing charges registered with the Ministry of Corporate Affairs on 28 January 2026 — one originally registered in December 2017 and another in May 2022 — signalling continued balance-sheet clean-up ahead of broader debt restructuring activity in 2026.

Mahagun Montagge Buyers Form Unity Group Over Repeated Possession Delays at Crossings Republik Project

Over 500 flat buyers at Mahagun Montagge in Crossings Republik, Ghaziabad, organised themselves into the 'Mahagun Montagge Unity Group' in early January 2026 after repeated possession deadline shifts — from 2022 through 2024 and into 2026–27. The buyers publicly appealed to UP Chief Minister Yogi Adityanath for intervention.

UP RERA Orders Punitive Action Against Mahagun Group Over 16 Complaints Including Misleading Portal Submissions

UP RERA's bench took strict action against Mahagun Group on September 29, 2025, after the authority found it in violation of RERA norms across 16 complaints. An inquiry revealed that Mahagun had uploaded electrical drawings on the RERA portal in place of a proper electrical NOC, constituting misleading information — with cases referred to the UP RERA Secretary for punitive action.