Category: Latest Stories

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Latest StoriesRegulatory

NCLT Approves Hotel Horizon Resolution, NCLAT Halts Equity Creation

Here’s a rewritten version of the provided content: The National Company Law Tribunal has sanctioned Hotel Horizon’s acquisition by a consortium consisting of Oberoi Realty, Shree Naman Developers, and JM Financial Properties and Holdings. The company has acknowledged liabilities amounting to ₹1,293 crore, while the successful bidder’s proposal entails a payment of ₹919 crore, leading to approximately 74% recovery for creditors of the financially strained firm. Prior to the tribunal’s sanction, the resolution plan had received unanimous approval from the company’s secured creditors. Hotel Horizon’s main asset is a coveted 1.85-acre land parcel located in Mumbai’s upscale Juhu area, with…

IndustryLatest Stories

Shriram Properties Acquires Shrivision Upscale Spaces

NEW DELHI: Shriram Properties has announced the acquisition of 100% equity shares of Shrivision Upscale Spaces, as stated in a regulatory filing. This acquisition was finalized on February 9, 2026, for a cash consideration of ₹10 per share (at par). The target company has a paid-up share capital of ₹1 lakh and reported no turnover as of March 31, 2025. The company noted that this acquisition is strategic and intended for business purposes. It clarified that the transaction does not qualify as a related party transaction, emphasizing that no promoter or promoter group entities hold any interest in the acquired…

IndustryLatest Stories

Confident Group Vows Project Completion After Chairman’s Death

File Photo KOCHI: Following the alleged suicide of its chairman in Bengaluru last week, Confident Group reaffirmed on Monday that it is a zero-debt, zero-investor company. The firm reassured customers that all ongoing projects will be completed as scheduled. Confident Group’s MD, T A Joseph, clarified that a recent Income Tax audit at their Bengaluru office was routine and that IT officials had not engaged in “extreme harassment” during the inspection. His comments come in light of the controversy surrounding the alleged suicide of chairman C J Roy during the IT inspection on January 30. Joseph emphasized that IT officials…

CommercialLatest Stories

UBS Signs ₹263-Crore Rental Deal for Pune’s Yerwada Tower

Global financial services firm UBS Group AG’s Indian subsidiary has signed a long-term lease for a complete commercial tower in Pune’s Yerwada area with Smartworks Coworking Spaces, with total rental costs exceeding Rs 263 crore. The managed office facility at Tech Park One on Airport Road encompasses approximately 165,290 square feet and accommodates about 1,520 workstations. The lease spans the ground through the seventh floor and began on January 15. According to property registration documents reviewed by RealtyDailyNews, UBS Business Solutions India, the subsidiary based in Zurich, will pay an initial rent of around Rs 240 per square foot per…

IndustryLatest Stories

Chandigarh to Auction About 1,000 Vacant Government Properties

CHANDIGARH: The Chandigarh administration plans to monetize approximately 1,000 vacant properties across the city beginning in the next financial year. This initiative aims to enhance revenue and promote optimal use of government-owned land and buildings. The UT estate office has identified around 1,000 properties from residential, commercial, industrial, and institutional categories for potential auction, depending on market demand. This includes about 130 residential, 205 commercial, 168 industrial, five nursing home, and one institutional site. According to senior UT officials, the administration anticipates generating over Rs 1,000 crore in revenue during the first half of the upcoming financial year through these…

Latest StoriesRegulatory

NGT Alerts MCD Over ‘Unauthorized’ Yamuna Floodplain Construction

NEW DELHI: The National Green Tribunal (NGT) has requested responses from the Municipal Corporation of Delhi (MCD), Delhi Development Authority (DDA), and others regarding a petition that claims unauthorized construction on the floodplain of the Yamuna River. The tribunal was addressing a letter petition from a Wazirabad village resident, who alleges that a multi-storeyed building is being constructed in the Majnu ka Tila area on the floodplain. A bench led by NGT Chairperson Justice Prakash Shrivastava and expert member A Senthil Vel stated in an order dated February 5 that the petition raises “significant issues” concerning adherence to environmental regulations.…

Latest StoriesRegulatory

Gurugram: 32nd Milestone Director Arrested for Fraudulent Sales

GURUGRAM: Gurugram police have arrested a man accused of defrauding around Rs 500 crore by selling the same floor of a building to over 25 individuals. The suspect, Dhruv Dutt Sharma, director of 32nd Milestone (32nd Avenue), was taken into custody, according to police reports. Sharma was presented in court and has been remanded into police custody for six days. Investigations suggest he deceived multiple victims, resulting in a hefty financial loss. In January, a complaint was lodged by a representative from Tram Ventures Private Limited against Apra Motels, now operating as 32 Milestone Vistas Private Limited. In 2021, the…

Latest StoriesRegulatory

Hyderabad: ₹270 Crore Fraud Case Against White Waters Constructions

HYDERABAD: The Economic Offences Wing (EOW) of the Cyberabad police has initiated a cheating case against White Waters Constructions and its directors. A woman has accused the company of defrauding her and numerous other flat buyers by collecting around ₹270 crore without delivering the promised projects. This complaint was lodged with the police on January 30 by Bhogadi Sujatha, a resident of Power Nagar Colony in Moosapet. According to her complaint, Sujatha became aware of White Waters@Y project near Kukatpally Y-Junction in 2018, and reserved a flat by paying ₹11 lakh. Over the next four years, she transferred ₹68.94 lakh…

Latest StoriesRegulatory

Mysuru Civic Body Hits Record 88.4% Property Tax Collection in 2025

MYSURU: The Mysuru City Corporation (MCC) achieved a record property tax collection rate of 88.4% by the end of December 2025, marking its highest performance to date. In prior years, tax collection had never surpassed 80% by year-end. Officials credit this year’s success to new strategies, including the public disclosure of major defaulters—comprising individuals, commercial entities, and government bodies—on the corporation’s official website. This measure, launched for the first time, has significantly increased compliance compared to previous years. The published list featured top defaulters across both commercial and large residential sectors. After multiple notices and reminders, MCC implemented this public-disclosure…