I think IBREAL pledged about 60% of its past holding in IBPOW with lenders funding the IBpower projects, just as additional guarantee. May be its revoked now as you say. We will know when more data is available during listing of IIPL.

Yes, IB-technology is a wholly-owned subsidiary of IB-wholesale. I think now IB-technology provides outsourced software services for the entire IB group, and also trying to market their services for companies outside the group. 

Indiabulls Real Estate FY 2010-2011 Annual Report :
www.nseindia.com/nse_archives/annual_reports/AR_IBREALEST_2010_2011_27122011102526.zip

http://www.hindustantimes.com/India-news/Mumbai/Indiabulls-project-gets-conditional-green-nod/Article1-815016.aspx

A mega luxury residential and commercial project by Indiabulls Infrastructure, to be spread across 11 acres in Lower Parel, has been given a conditional clearance by the state’s green authority.
The project, named Indiabulls Bleu, is being built on Bharat and Podar Mills, near Worli naka and was auctioned by national textile corporation (NTC) in 2010. The company bought the 8.3 acre Bharat Mill for a whopping Rs1505 crore and the 2.3 acre Poddar Mill at Rs250 crore.

The project includes two 60-storey towers that will house 2,000 sq ft apartments and two 50-storey commercial towers, estimated to cost Rs764 crore.

The project got a clearance from the state expert appraisal committee (SEAC) this month. This advisory body scrutinises all mega construction proposals over 20,000 sq meters.

Clearance was recommended on the condition that the developer complies with certain issues including that the additional floor space index (FSI) offered under the state’s IT policy and utilised for the commercial towers should not be availed for residential towers.

However, even as the green authority gave a conditional go ahead to the project, it has rapped the project developers for allegedly violating Environment Protection Act by clearing the site of all mill structures before obtaining a clearance.

The authority has asked the environment department to look into the matter and take action.

The project developers had informed the authority that the site had been cleared as per its agreement with the BMC.

Edited by s.sath - 21/Feb/2012 at 11:05am

Review of performance  of INDIABULLS PROPERTIES INVESTMENT TRUST for FY12:

IPIT earned S$84.8 million of rental income in the financial year ended 31 March 2012 compared with rental income of S$59.3 million for the financial year ended 31 March 2011. Net property income for the financial year ended 31 March 2012 was S$54.9 million compared with S$21.5 million for the financial year ended 31 March 2011 due to a pick-up in leasing activity in the commercial component of the properties comprising Towers 1 and 2 of One Indiabulls Centre and Towers 1, 2 and 3 of Indiabulls Finance Centre which are fully operational (pending certain finishing works in certain parts of Indiabulls Finance Centre). The total area that has been leased out at the properties is approximately 2.1 million sq ft at an average rental of approximately Rs. 154 per sq ft per month. At One Indiabulls Centre, the construction of the residual commercial space (in addition to Towers 1 and 2 which have already been completed and are fully operational) is being currently carried out. We expect the residential development on the properties to be completed in approximately three years.

http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_C1FCCB6D1EEF60BD482579F200514A93/$file/IPIT_FY2012_Results_Announcement.pdf?openelement