KGK Realty (India) has been granted permission by India's bankruptcy court to acquire Anudan Properties after the Committee of Creditors approved its resolution plan. The acquisition highlights the trend of property sector deals involving financially sound developers via the insolvency process. Data from the Insolvency & Bankruptcy Board of India shows that 805 real estate firms received resolution plans from bidders out of 1,240 firms brought into administration by September-end 2021.
