Aspect Group’s ₹155 Cr NCLT Coup Secures Juhu Gully, a ₹2,500 Cr Mumbai Real Estate Prize

• The Courtroom Acquisition

• Unpacking the Juhu Gully Prize

• Mohit Kamboj – The Financial Masterstroke Behind the Deal

The Aspect Group and Mohit Kamboj has executed one of Mumbai’s most strategic real estate takeovers, securing the prized Juhu Gully cluster via an NCLT-approved ₹155 crore deal. The acquisition grants control over 11 stalled firms and unlocks redevelopment potential worth over ₹2,500 crore. This bold financial maneuver positions Aspect Group as a rising force in Mumbai’s luxury property market.

The Aspect Group has masterfully acquired Mumbai’s prized Juhu Gully cluster. A strategic NCLT approval grants them control of 11 firms and potential revenue exceeding ₹2,500 crore.

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The Courtroom Acquisition

On June 27, 2025, the NCLT Mumbai Bench approved a landmark resolution plan. It handed control of Darshan Developers Group to Shiv Infra Vision Properties Pvt. Ltd. This transfer was not via a typical property auction. The deal was finalized inside a Bandra-Kurla Complex courtroom, bypassing conventional sales channels.

The order (IA No. 35 of 2025) revealed a complex corporate structure. Shiv Infra Vision is a wholly-owned subsidiary of Aspect Infrastructure and Construction Pvt. Ltd. This entity is itself a subsidiary of Aspect Global Ventures Pvt. Ltd. This layered ownership cemented the Aspect Group’s control over the asset.

Unpacking the Juhu Gully Prize

The Juhu Gully site is a pocket of prime real estate between Juhu and Andheri. It was previously mired in stalled construction and litigation. The Aspect Group now possesses one of Mumbai’s most expensive redevelopment opportunities. The Sprouts News Investigation Team (SIT) found the acquisition cost was just ₹155.02 crore.

The resolution plan consolidates eleven insolvent real estate companies. These entities held land parcels across Mumbai’s western suburbs. The NCLT order effectively extinguishes legacy claims and liabilities. This provides Aspect with a clean slate for development.

The Financial Masterstroke

The numbers reveal a staggering financial upside. The acquired land portfolio has an estimated fair value of ₹750-₹1,000 crore. For Aspect, the ₹155 crore investment is a fraction of the potential return. This represents a significant value play in distressed asset investing.

The deal included a substantial allocation for lender Piramal Capital & Housing Finance Ltd. They received rights to 40,000 sq.ft. of carpet area at Juhu Gully. This allocation alone carries an implied market value of ₹140–₹180 crore based on current rates.

The Leadership Behind the Deal

Public records indicate a significant leadership link. Mohit Kamboj, a known figure in bullion and political circles, is involved. He is listed as the Group CEO of Aspect Global Ventures as of 2025. This connects the real estate coup to a prominent business leader.

The group’s leadership also includes Aksha Mohit Kamboj. She serves as the Executive Chairperson of Aspect Global Ventures. She is also the first woman chief of the India Bullion Jewellers Association (IBJA). This highlights the group’s diversified leadership and influence.

Aspect Group’s Expanding Empire

The Aspect Group is a diversified Mumbai-based conglomerate. Its interests span real estate, infrastructure, and hospitality. Aspect Hospitality operates popular Mumbai restaurants like Brunch & Cake and OPA Kipos.

The group has also expanded its operations internationally. It has established a presence in the USA, UK, Singapore, and Dubai. Aspect Bullion is reported to be a leader in the bullion market. This global footprint underscores its financial capacity.

The Future Skyline of Juhu

The Juhu Gully cluster is the undisputed trophy asset in this deal. Upon full redevelopment, it could yield over 5–6 lakh sq.ft. of saleable area. This implies potential top-line revenue upwards of ₹2,500 crore. The project will transform a stagnant site into a premium address.

The NCLT order mandates Aspect to fund the development. It must use its own funds and future project revenues. The order grants full rights to complete and monetize the stalled clusters. This positions Aspect as a major force in Mumbai’s premium real estate market.

A Corporate Coup Sealed

The NCLT’s final approval marks a corporate masterstroke. “IA-35/2025 is allowed. The Resolution Plan… is hereby approved,” the order states. This single move transforms a distressed portfolio into a future landmark.

From a relatively unknown developer, Aspect Group emerges as a quiet victor. Its ₹155-crore bet may soon redefine the skyline of Juhu. This strategic takeover showcases the power of the Insolvency and Bankruptcy Code in reshaping urban landscapes.

BJP’s Mohit Kamboj: From Banking Frauds to Juhu Land Scam – A Chronicle of Controversies

BJP leader Mohit Kamboj faces a spectrum of controversies, from multi-crore bank fraud allegations to a political firestorm over a prime Juhu land plot. This Sprouts News investigation chronicles the legal and political battles.

The Juhu Land Scam Allegations

A prime 48,407-square-foot land parcel in Juhu is at the center of an Rs 800 crore alleged scam. The Mumbai Congress has accused the BMC of illegally allocating the plot to a private builder.

They allege the plot was handed to Mahadev Realtors, linked to Mohit Kamboj, in a hurried process. The approval was granted in just four days, raising serious procedural questions.

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Related Article: Mohit Kamboj at Center of Rs 800 Crore Juhu Land Scam Allegations.

Banking Fraud & Cheating Cases

A special court accepted the CBI’s closure report in a Rs 67-crore fraud case against Kamboj. The Bank of India had lodged the complaint, alleging fund diversion.

Kamboj paid a one-time settlement and the bank wrote off the remaining amount. In another case, the CBI closed a Rs 103 crore cheating probe against him.

The agency cited a lack of dishonest intention found during its investigation. Previously, the Mumbai police had also registered an FIR in a Rs 52 crore cheating case.

Political Sparring & Legal Entanglements

Congress MP Varsha Gaikwad has publicly sparred with Kamboj over SRA projects. She questioned the appointment of a firm linked to him for a Juhu Gully project.

Kamboj denied reports of bagging multiple SRA projects, challenging Gaikwad to provide proof. He also withdrew a 2021 defamation case against NCP leader Nawab Malik.

This led to Malik’s acquittal by a Mumbai court. Kamboj stated he was unable to attend court proceedings daily.

Allegations of Undue Influence

Shiv Sena (UBT) leader Ambadas Danve alleged Kamboj interferes in the state irrigation department. He claimed a senior bureaucrat takes orders from the BJP leader.

Danve demanded an investigation during a legislative council debate. Kamboj was also named by Zeeshan Siddique in his police statement on his father’s murder.

He confirmed speaking with Baba Siddique the day he was murdered but denied wrongdoing. The charge sheet did not name Kamboj in the murder case.