Brookfield-backed Chronos Properties renews bank guarantee to stay in race for IL&FS's Bandra Kurla Complex office

Brookfield-backed Chronos Properties has renewed a Rs 148 crore bank guarantee. This action keeps them in contention for acquiring IL&FS's Bandra Kurla Complex property. The company submitted demand drafts to the National Company Law Tribunal. This follows a directive from the insolvency appellate tribunal. The appellate tribunal had ordered the renewal within a month to prevent disqualification.