Virtuous Retail South Asia, a developer of lifestyle shopping centres, acquired a 49% share in the privately held North Delhi Metro Mall (NDMMPL) for US$121 million.
“The investment by Virtuous Retail and its affiliates has been made as a foreign direct investment under the automatic route in the construction and development sector,” Abhishek Awasthi, a partner at AZB & Partners, told India Business Law Journal.
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