Category: Latest Stories

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Latest StoriesRegulatory

SC to Hear ED’s Plea on Illegal Arrest of Vasai-Virar Chief

NEW DELHI: The Supreme Court has agreed to hear a petition from the Enforcement Directorate (ED) challenging a Bombay High Court ruling that deemed the arrest of former Vasai-Virar civic body chief Anil Pawar in a money laundering case as “illegal”. The ED arrested Pawar on August 13 in connection with the case. According to the ED, illegal constructions were made, involving the development of 41 buildings between 2008 and 2010 by the accused builders and developers in collusion with City and Industrial Development Corporation of Maharashtra officials. The ED’s appeal against the high court’s order from October 15 was…

IndustryLatest Stories

Axis Bank to Sell ₹511-Crore Lavasa Corp Debt

Axis Bank has become the first creditor to seek buyers for its outstanding exposure to the financially troubled Lavasa Corp, while other lenders are still evaluating their options due to the ongoing litigation issues tied to the resolution process. On Monday, Axis Bank listed its ₹511 crore claims for sale with a reserve price of ₹80 crore, available on an all-cash basis. As the fifth-largest creditor to the distressed private hill city, Axis is actively soliciting expressions of interest (EoIs) from asset reconstruction companies (ARCs), non-banking finance companies (NBFCs), and other financial institutions. The deadline for submitting documents is November…

Latest StoriesResidential

Delhi: Signature View Apartments to be Manually Demolished

NEW DELHI: The Delhi Development Authority (DDA) has decided to demolish the Signature View Apartments in Mukherjee Nagar using a conventional floor-by-floor method rather than the implosion technique used on Noida’s Supertech twin towers. Officials revealed that experts deemed the building’s structural quality extremely poor, making it unsafe to drill into weak walls for the insertion of explosives. The complex consists of 10 towers with stilt plus 10 stories and two towers with stilt plus six stories, surrounded by the SFS Flats Society and other residential and commercial properties. The demolition is set to commence soon as the DDA finalizes…

Latest StoriesResidential

70+ Plots Available in Raj Nagar Extension & Noornagar, Ghaziabad

Representative image GHAZIABAD: The Ghaziabad Development Authority (GDA) has initiated a residential plot scheme in Raj Nagar Extension and Noornagar as part of the Noornagar Housing Scheme. This project will make around 77 land parcels available for sale, varying in size from 60 to 221 sqm. The tendering process for the work is set to commence this week. According to a GDA official, the scheme will cover an area of 17,872 sqm. “We will begin external development in the area, allocating Rs 3.05 crore for road and sewer networks, along with an additional Rs 1 crore for electricity infrastructure and…

Latest StoriesRera

Cops Team Up with Karnataka-RERA Against Defaulting Builders

BENGALURU: In a significant step towards recovering over ₹750 crore in overdue payments from builders, the police department has agreed to deliver notices issued by the Karnataka Real Estate Regulatory Authority (K-RERA) to non-compliant developers. Homebuyers have repeatedly called upon K-RERA, the Revenue Department, and the state government to take firmer measures against builders accused of violating regulations, including delays in flat handovers. Documents obtained by Bangalore Mirror indicate that a recent meeting focused on establishing collaboration between K-RERA and the police for issuing these notices. Chaired by the Chief Secretary, the discussion explored the possibility of sending notifications through…

Latest StoriesResidential

YEIDA to Develop Housing Clusters for Heritage City

NOIDA: The Yamuna Expressway Industrial Development Authority (YEIDA) is set to develop residential and commercial clusters in the Heritage City project at Raya, close to Mathura-Vrindavan, rather than a private developer as initially planned. The project will adopt a public-private partnership (PPP) model to enhance religious, cultural, and tourism infrastructure within the ₹7,200-crore hub of the Braj pilgrim circuit. The project, situated in the proposed Raya Urban Centre, will span 753 acres and feature a heritage-themed township, a 30 km Yamuna riverfront, and a 100-foot statue of Lord Krishna at its center. Additional proposals include wellness and yoga centers, hotels,…

Latest StoriesRegulatory

Bombay HC Restores Registration of Housing Society Federation

MUMBAI: The Bombay High Court has reinstated the registration certificate of a housing society federation, stating that the decision to deregister it was legally “unsustainable.” Justice Amit Borkar emphasized, “Judicial discretion cannot be exercised to reward falsehood,” noting that the deregistration occurred following a seven-year delay, with the appeal based on evidently false claims without credible evidence. The Federation of Cooperative Housing Societies from Borivli West challenged an April 2025 order by the divisional joint registrar of Cooperative Societies, which annulled its status as a ‘Cooperative Society’—a designation granted in January 2018 under the Maharashtra Cooperative Societies Act. The petition…

Latest StoriesRegulatory

SC Issues Notice to CBI on Ex-DHFL Promoter’s Bail Plea

NEW DELHI: The Supreme Court has requested a response from the CBI regarding a bail application submitted by former DHFL promoter Kapil Wadhawan in connection with an alleged ₹34,926 crore bank fraud case. A bench comprising Justices JK Maheshwari and Vijay Bishnoi has issued notice to the agency for its response. On August 4, the Delhi High Court denied Wadhawan bail, citing that his conduct during custody was “not beyond reproach.” The court emphasized that economic offences affect not only individual victims but the financial system as a whole. The CBI contends that Wadhawan, as the promoter and CMD of…

Housing FinanceLatest Stories

PNB Housing Finance Q2 FY26 Net Profit Up 23.83%

NEW DELHI: PNB Housing Finance has reported a 23.83% increase in net consolidated growth for the quarter ending September 30, 2025. The profit after tax stood at ₹581.59 crore in Q2 FY26, up from ₹469.68 crore in the same quarter last fiscal year, according to a BSE filing. The company’s net consolidated total income for Q2 FY26 was ₹2,130.60 crore, reflecting a year-on-year growth of 13.35% from ₹1,879.66 crore in the same quarter last year. Jatul Anand, executive director of PNB Housing Finance, stated, “Despite facing challenges from leadership transitions, we’ve shown robust performance across key metrics this quarter. Our…

IndustryLatest Stories

Pune Builder Requests Jain Trust to Cancel Deal

PUNE: Amid ongoing controversy surrounding the sale of a prominent property owned by a Jain trust in Pune, the involved private builder has formally requested the cancellation of the deal. On Sunday, Vishal Gokhale, a partner at Gokhale Landmarks LLP, sent an email to the Seth Hirachand Nemchand Smarak Trust, notifying the trustees of his intention to withdraw from the transaction and request the cancellation of the sale deed. In his message, he pointed to “numerous false and misleading rumors” circulating publicly that raised questions about the legitimacy of the deal and suggested improper motives. Opponents of the property deal…