DLF‘s subsidiary- DHDL has transferred related assets and liabilities along with relevant long term loans on 'as is where is basis' by way of slump-sale upon receipt of a lump sum consideration of Rs. 67.44 crore. The transaction is a part of DLF’s objective of divesting its non-core assets.
Earlier, on April 04, 2013, definitive Business Transfer Agreement was executed between DLF Home Developers (DHDL), a subsidiary and Violet Green Power, a subsidiary of Leap Green Energy, to transfer the DHDL's undertaking comprising of 33MW wind turbines situated at Rajasthan, subject to regulatory approvals and permissions.
DLF, founded by billionaire Kushal Pal Singh, has a land bank of 10,255 acres, the biggest in the real estate sector. At its peak, its debt pile stood at Rs 23,000 crore.
