Category: Latest Stories

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Latest StoriesRegulatory

Delhi court denies bail to ex-Jaypee Infratech MD in case

NEW DELHI: A Delhi court has rejected former Jaypee Infratech managing director Manoj Gaur’s bail application in a money-laundering case, emphasizing that the allegations involve cheating and criminal breach of trust affecting many individuals. The court remarked that while numerous homebuyers sought justice after investing their life savings in their desired homes, Gaur was benefitting from the alleged proceeds of crime. Additional Sessions Judge Dhirendra Rana examined Gaur’s plea, noting that Gaur was arrested by the Enforcement Directorate (ED) on November 13, 2022, in relation to a ₹14,599-crore fraud involving homebuyers. The ED alleges that the money collected from homebuyers…

Latest StoriesRera

Homebuyers Await Recovery Warrants Two Months After MahaRERA SOP

PUNE: Homebuyers seeking compensation from defaulting developers find themselves in a state of uncertainty, as execution of recovery warrants remains stalled despite the Maharashtra Real Estate Regulatory Authority (MahaRERA) implementing a new standard operating procedure (SOP) two months ago aimed at expediting the process. Among those affected are 80-year-old Arun Seth and his wife, who invested over Rs 50 lakh in a housing project back in 2014. Even though recovery warrants were issued in their favor years ago, local revenue authorities have yet to act. “Orders are issued, but nothing gets executed. It’s unclear if the developer still has any…

InfrastructureLatest Stories

Chamarajanagar Plans to Declare 67 Revenue Villages

MYSURU: The Chamarajanagar district administration is set to designate an additional 67 villages as revenue villages shortly. A final draft is currently under preparation and will be announced soon. The district comprises 408 villages at present. Revenue department officials have pinpointed 67 human habitations, including Gollarahatti, Kuruburahatti, and Majare, for this designation. This move aims to facilitate development activities in these areas. Additionally, this designation will enable residents to access government facilities and provide them with official records for their properties, which they have been deprived of for years due to the lack of formal recognition. The district administration, along…

InfrastructureLatest Stories

Indore: 16 Homes to Be Demolished for Metro Station Next Week

Sure! Here’s a rewritten version of the content: INDORE: Sixteen homes in the Piliyakhal area are set to be demolished next week to make way for a proposed underground Metro station near Bada Ganpati. The rehabilitation process for the residents of Bada Ganpati is progressing rapidly as the project unfolds. Senior administrative officials reported that the Metro management has suggested relocating the affected families to flats constructed under the Pradhan Mantri Awas Yojana in the Tapti Complex at Rangwasa. A sum of Rs 1.29 crore has been deposited with the district administration for the allotment of flats to the 16…

IndustryLatest Stories

Unitech CEO’s Term Extended by One Year

NEW DELHI: Unitech Ltd announced on Tuesday that its board has sanctioned a one-year extension for CEO Ashok Kumar Yadav. In a regulatory disclosure, Unitech, based in Gurugram, stated that during last month’s board meeting, the extension was approved effective from February 11, 2026, or until further notice, whichever comes first. In 2020, the central government intervened and superseded the company’s board following a Supreme Court ruling. The Ministry of Corporate Affairs suggested the formation of a new board, which the Supreme Court ratified on January 20, 2020. Unitech Ltd is currently dealing with a severe cash shortage, leading to…

IndustryLatest Stories

Rajasthan Considers Easing Building Rules to Attract Investment

JAIPUR: The state government is contemplating easing building height and setback regulations to foster a more adaptable and investor-friendly urban development framework, aiming to spur industrial growth and enhance affordable housing. The government is considering the principle of “Everything is allowed unless explicitly prohibited,” which would eliminate the need for formal conversion of agricultural land for non-agricultural uses if the intended purpose aligns with the master plan. An official informed that Chief Secretary V. Srinivas has updated the cabinet secretariat regarding Rajasthan’s second phase of compliance reduction and deregulation, detailing a comprehensive reform roadmap designed to simplify business operations and…

Latest StoriesRegulatory

Panel Formed to Investigate Thanisandra Demolitions in Bengaluru

BENGALURU: The Bangalore Development Authority (BDA) has established a two-member committee comprising retired district judges to investigate the removal of alleged encroachments in Thanisandra village, specifically in Arkavathi Layout. According to a public notice issued on January 29, the BDA appointed this committee to evaluate if proper procedures were followed during the demolition drive conducted on January 8, which resulted in the clearing of around 22 ‘illegal structures’ across two acres. Residents have expressed concerns after claiming they purchased the sites through agents, raising alarms over possible illegal property transactions, reminiscent of the issues previously reported in the Kogilu Layout…

Latest StoriesRegulatory

NCLT Forms Committee to Address Jaypee Infratech Complaints

NEW DELHI: The National Company Law Tribunal (NCLT) in Delhi has mandated the establishment of an independent expert committee to address the complaints of allottees involved in Jaypee Infratech projects, now under Suraksha Realty’s development. This ruling was issued on February 12, 2026. In a submission by advocates Ashwarya Sinha and Aditya Malhotra representing homebuyers, concerns were raised about excessive delays, unclear construction schedules, and unfair financial demands on buyers. The approved resolution plan included an independent monitoring committee (IMC), which was subsequently disbanded in May 2024 without notifying stakeholders. Following a review of all arguments, the court decreed that…

Latest StoriesResidential

Gurugram: Two farmhouses on 26 acres in Aravalis demolished

Representative AI image GURUGRAM: On Monday, the forest department took action against unauthorized construction in the protected Aravali region by demolishing a concrete wall and two farmhouses in the Raisina hill area. The affected land covers approximately 26 acres, where inspections revealed the illegal use of earthmovers and extensive concretization. Divisional Forest Officer (Gurgaon) Raj Kumar stated the action was warranted after confirming the resumption of construction activities in violation of environmental regulations. An earthmover was deployed to remove the concrete structures along a narrow forest path, leaving debris scattered across the hillside. This region falls under the Aravali Notification…