Category: Latest Stories

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Latest StoriesRegulatory

Bombay HC Intervenes in Decathlon-Godrej Chembur Lease Dispute

MUMBAI: The Bombay High Court has taken significant action in a lease dispute regarding valuable commercial real estate in Chembur. In a crucial interim ruling, the court has placed the contested property under judicial protection until a final decision is reached, and has appointed the Court Receiver to assume possession and provide a status report. The court raised questions about the termination of Decathlon Sports India Pvt Ltd’s lease, which appears to have been canceled in favor of a more profitable option. The dispute centers around the commercial segment of Godrej RKS, where Decathlon claims to have secured 761 square…

Latest StoriesRegulatory

Allahabad HC Dismisses Plea on Sahara Shahar Land Lease

LUCKNOW: The Allahabad High Court has declined to hear a petition from Sahara India Commercial Corporation Limited challenging the Lucknow Municipal Corporation’s September 2025 orders that annulled the land lease for the Sahara Shahar complex and mandated its vacation. The HC’s Lucknow bench stated that the petition was not maintainable since the matter involving Sahara Shahar is currently under consideration in the Supreme Court, where Sahara has filed an application, and the Lucknow Municipal Corporation (LMC) has submitted an objection. “We find ourselves constrained from proceeding further in this matter,” remarked a bench of Justices Rajan Roy and Manjive Shukla…

CommercialLatest Stories

Smartworks Reports ₹10.52 Crore Net Profit in FY26

NEW DELHI: Smartworks Coworking Spaces has announced a net consolidated profit of ₹10.52 crore, with total income amounting to ₹1,849.90 crore for the financial year 2025-26. In Q4 FY26, the company’s net consolidated total income reached ₹532.70 crore, while profit after tax was ₹16.62 crore. The company reported a net debt of -₹56 crore, concluding FY26 with net cash and a reduction in gross debt by over 50% since its IPO. The cost of borrowing dropped below 9%, decreasing approximately 180 bps year-on-year. Neetish Sarda, the founder and managing director, stated, “This year, we became the first listed flex workspace…

CommercialLatest Stories

Co-Working Spaces Create GST Registration Challenges

AHMEDABAD: Businesses utilizing co-working spaces and seeking GST registration are experiencing heightened scrutiny from tax authorities throughout the state. Despite such registrations being legally acceptable, officials are showing caution, particularly when multiple companies share the same address, often suspecting the existence of shell companies or fraudulent entities aimed at tax evasion. Applicants report that government officials frequently request proof of exclusive office space possession, despite co-working arrangements providing licensed access to desks and cabins rather than formally leased premises. In numerous cases, GST applications have been denied because another business is already registered at that location. Chartered accountant Karim Lakhani…

CommercialLatest Stories

Accenture Leases 600K Sq Ft in Pune for ₹325 Crore GCC Plan

Sure! Here’s the rewritten content with a fresh flow: MUMBAI: Accenture has signed a long-term lease for over 600,000 sq ft of office space, spanning nine floors at Phoenix Millennium Towers in Pune’s Baner area. This agreement extends for more than 15 years, as confirmed by sources familiar with the deal. The global technology and consulting firm intends to establish a Global Capability Centre (GCC) at this location, with the move scheduled to occur in two phases, concluding in June. The total rental expenditure is projected to exceed ₹325.37 crore over the lease duration, with phase I costing ₹194.16 crore…

InfrastructureLatest Stories

Haryana: DTCP Initiates Statewide Audit of Infrastructure, Funds

GURUGRAM: The Department of Town and Country Planning (DTCP) has launched a statewide initiative to collect data on infrastructure capacity, encroachments, and funds utilization, following an interim order from the Punjab and Haryana High Court regarding the stilt-plus-four (S+4) policy. In a memo issued on Wednesday, the department instructed key urban agencies—including metropolitan development authorities, municipal corporations, HSVP, HSIIDC, and other local bodies—to provide detailed reports by 10:30 AM on May 1, in anticipation of the next hearing on May 4. Urban planners believe this effort could significantly impact residential densification policies statewide. “The court is assessing whether infrastructure can…

InfrastructureLatest Stories

Telangana Gov’t Finalizes Deal for Full LTMRHL Acquisition

HYDERABAD: The Telangana government has decided to take control of the Hyderabad Metro Rail Phase I through HMRL. On Wednesday, they signed a Share Purchase Agreement with L&T to acquire 100% equity shares of LTMRHL for an equity value of ₹1,461.47 crores. The Share Purchase Agreement was signed by Hyderabad Metro Rail Ltd (HMRL) Managing Director Sarfaraz Ahmad, D K Sen representing L&T Ltd, and KVB Reddy representing L&T Metro Rail (Hyderabad) Limited (LTMRHL). Attending the signing were Telangana Chief Secretary and HMRL Chairman K Ramakrishna Rao, along with Special Chief Secretary (Municipal Administration) Jayesh Ranjan, according to a release…

Latest StoriesRegulatory

SC Aims to Provide Homes to 22,000 Unitech Buyers

NEW DELHI: The Supreme Court clarified on Wednesday that its aim is to ensure that 22,000 homebuyers of the distressed Unitech Ltd receive their homes. The court urged the newly appointed board by the Centre, along with banks and financial institutions, to propose solutions for resolving this long-lasting dispute. A bench, including Justices JB Pardiwala and KV Viswanathan, requested both counsel for homebuyers and land-owning agencies to submit a brief two-page note with suggestions within a week. Around 22,000 homebuyers have been waiting for their homes purchased from Unitech for several years. The management of the firm is now under…

CommercialLatest Stories

Brigade Group and Bain Capital to Develop 2M Sq Ft in Bengaluru

Representative AI image NEW DELHI: Brigade Group and Bain Capital are set to develop a mixed-use project in Whitefield, Bengaluru. The development will be executed through a 50:50 joint venture between the two entities, with a total investment of around ₹2,200 crore on an approximately 11-acre site. The integrated project is projected to encompass around two million square feet, featuring grade-A office space and a five-star hotel managed by an international brand. Recently, the company acquired a 5.72-acre land parcel in Osman Nagar, Hyderabad, at a price of ₹44 crore per acre. It plans to establish a residential project on…

IndustryLatest Stories

Mindspace REIT’s Net Operating Income Rises 29.2% in FY26

NEW DELHI: Mindspace Business Parks REIT (Mindspace REIT) has posted a net operating income (NOI) increase of 29.2% for the financial year 2025-26. The executive committee of K Raheja Corp Investment Managers, which manages Mindspace REIT, has approved fundraising through the issuance of non-convertible debt securities and/or commercial papers. The total amount will not exceed ₹15,700 crore (net of repayments), including any outstanding debts, and will be issued in one or more tranches. It is further stipulated that the aggregate consolidated borrowings and deferred payments of Mindspace REIT and its HoldCo/Asset SPVs, after accounting for cash and cash equivalents, must…