Updates

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.

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.

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.