In a regulatory filing, Indiabulls informed that the board considered the recommendations made by a restructuring committee and authorized it to evaluate and finalize the options available for sale of its residential and commercial assets at Chennai. The company did not provide any details about the properties it wants to divest in Chennai. The board took on record the resolutions passed by the board of directors of its 100 per cent subsidiaries Navilith Holdings Ltd (Cyprus) and M Holdco1 Ltd (Mauritius) that authorized execution of non-binding documents with third party institutional investor, for reorganization of its commercial leasing business in India. The resolutions further authorized the two subsidiaries to conclude the transaction before March 31, 2018. -PTI