NEW DELHI: Bhutani Infra on Wednesday informed that it has withdrawn from any planned engagement with the World Trade Centers Association (WTCA) and will not have any involvement with the ongoing, completed or future projects associated with the organization.
The company had acquired a majority stake in WTC Noida in a revenue-share deal in 2024. This was one of five World Trade Centers being developed in India. The company clarified that they have now withdrawn from this agreement.
Ashish Bhutani, CEO, Bhutani Infra, stated, “Our initial discussions with the WTC Group were intended to align with Bhutani Infra’s broader vision to contribute to India’s commercial real estate landscape. However, we have chosen to fully step away from any association with the WTC Group.”
ETRealty has reached out to WTCA and will update the story based on the responses.
The company emphasized that it holds no responsibility or liability with respect to the unit holders of existing or ongoing projects of the WTCA.
“Bhutani Infra had initially explored prospective opportunities with the WTC Group solely on the basis of the representations provided by the WTC Group. However, after a thorough evaluation, the company has decided to disengage entirely from the WTC group,” it said.
WTCA, an international trade organization, licenses developers to use the brand name and services.
