Category: Regulatory

Keep up with important regulatory news affecting real estate, including government policies, tax reforms, compliance requirements, and RERA updates. Understand how these regulations impact developers, investors, and buyers.

Latest StoriesRegulatory

NCLT Accepts Insolvency Plea for Supreme Housing & Hospitality

MUMBAI: The National Company Law Tribunal (NCLT) has accepted Canara Bank’s insolvency petition against Supreme Housing and Hospitality Private Limited, a Mumbai-based real estate firm, over outstanding dues exceeding ₹567 crore. This move follows several unsuccessful attempts at a one-time settlement and extended litigation. The Mumbai bench of the tribunal commenced the corporate insolvency resolution process (CIRP) against Supreme Housing on May 13 under Section 7 of the Insolvency and Bankruptcy Code (IBC). Canara Bank indicated a default amounting to ₹567.43 crore as of October 31, 2025, which includes a principal amount of ₹175.83 crore and interest dues of ₹391.60…

Latest StoriesRegulatory

Hyderabad Builder in Trouble for Mortgaging Villa Without Consent

HYDERABAD: A villa owner in a gated community near Kompally has filed a police report claiming her property was unlawfully mortgaged by the builder in October 2025, falsely presenting it as unsold. The Medchal police have opened a case against the real estate developer and the private firm that allegedly provided a loan based on this mortgage. The complainant, Anitha Vittal, who is a senior corporate executive, alleged that numerous other properties developed by the builder, including a venture for senior citizens, were also mortgaged without consent in the same deed to secure loans in 2025. Anitha discovered the fraud…

Latest StoriesRegulatory

Haryana: I-T Searches Tehsil Office, Finds ₹45,000 Crore Discrepancies

GURUGRAM: On Tuesday, the income tax department conducted surprise verification and survey operations at sub-registrar offices in Gurugram and Mohali. This action was prompted by reports of significant lapses in the reporting of high-value real estate transactions. The operations commenced early in the day at the tehsil office located in the mini secretariat, where officials have uncovered discrepancies in property transactions amounting to Rs 45,000 crore at the Gurugram tehsil. This initiative is part of a nationwide data-validation effort aimed at evaluating the accuracy and quality of information provided by designated reporting entities. According to the law, sub-registrar offices are…

Latest StoriesRegulatory

Punjab Minister Sanjeev Arora Challenges ED Arrest in HC

CHANDIGARH: Punjab Cabinet Minister Sanjeev Arora has approached the Punjab and Haryana High Court, contesting his arrest by the Enforcement Directorate (ED) under the Prevention of Money Laundering Act (PMLA), deeming it “illegal and unconstitutional.” This plea was presented to a bench consisting of Chief Justice Sheel Nagu and Justice Sanjiv Berry, which heard arguments from Arora’s attorney, Puneet Bali, before adjourning the matter to May 14. The ED arrested Arora on May 9 as part of an investigation into an alleged ₹100-crore GST fraud money laundering case linked to him. At 62 years old, Arora was detained under PMLA…

Latest StoriesRegulatory

CBI Charges Logix City Developers, Bank Officials in Fraud Case

NEW DELHI: The Central Bureau of Investigation (CBI) has submitted a chargesheet against a real estate company, along with its directors and officials from two private banks, for allegedly conspiring to defraud homebuyers and financial institutions in relation to a housing project in Noida, officials announced on Tuesday. The agency stated that charges have been filed against “Logix City Developers Pvt. Ltd. and its Directors, Bank Officers from ICICI Bank and HDFC Bank” for their purported roles in a criminal conspiracy that resulted in wrongful loss to financial institutions and homebuyers. The CBI alleges that the developers misled buyers and…

Latest StoriesRegulatory

NCLT Permits Withdrawal of Insolvency for Nobility Estates

NEW DELHI: The National Company Law Tribunal (NCLT) has permitted the withdrawal of the corporate insolvency resolution process (CIRP) against Nobility Estates, the developer of ATS Group’s residential project Le Grandiose in Noida, following an agreement reached between lenders and the previous management. The order was issued by the NCLT Principal Bench, led by Acting President Bachu Venkat Balaram Das and Member (Technical) Ravindra Chaturvedi on May 5, 2026. The application was submitted by resolution professional Hitesh Goel under Section 12A of the Insolvency and Bankruptcy Code (IBC) along with related regulations. Insolvency proceedings against Nobility Estates commenced on November…

Latest StoriesRegulatory

CBI Files 7th Chargesheet in Builder-Banker Scam vs. Sequel Buildcon

NEW DELHI: The CBI has filed its seventh chargesheet in the case against Sequel Buildcon Private Limited for alleged fraud against homebuyers, claiming that the company misused funds from PNB Housing Finance for the Noida project ‘The Belvedere,’ officials reported on Monday. The investigation is part of a larger inquiry into 50 cases assigned to the CBI by the Supreme Court, with allegations that the company failed to provide possession of residential units and did not refund deposits made by homebuyers. Approximately 23 individuals initiated the legal action that led to the Supreme Court transferring the case to the CBI.…

Latest StoriesRegulatory

Gurugram Builder Arrested for Defrauding Client of ₹15 Crore

GURUGRAM: The Gurugram Police have apprehended a 50-year-old real estate firm owner, Mahesh Mugam, for allegedly defrauding individuals of crores by promising land agreements, officials reported on Sunday. Mugam resides in Sector 75, Noida. As per police reports, a complaint was filed on January 20 by an individual who claimed that Neon Infra Construction Solutions Company and its affiliates presented documents indicating the sale of approximately 11.33 acres of land located in Ghughera village, Palwal district, Haryana. The accused executed a land sale agreement on August 1, 2024, and accepted around Rs 17 crore for the entire transaction and associated…

Latest StoriesRegulatory

Punjab Minister Sanjeev Arora in 7-Day ED Custody

File photo GURUGRAM: A special PMLA court in Gurugram has remanded Punjab Industries Minister Sanjeev Arora to Enforcement Directorate (ED) custody for one week in connection with an alleged Rs 100-crore GST fraud-related money laundering case. The court noted that the allegations are “very serious” and the ED needs to investigate further. The lawyer representing Arora, a senior member of the Aam Aadmi Party (AAP) in Punjab, claimed that a “false and frivolous” case was fabricated against him, asserting that “no prima facie evidence” was gathered prior to his arrest. Arora, aged 62, was taken into custody by the ED…

Latest StoriesRegulatory

Bombay HC Rejects Tenants’ Request to Add Builder in Petition

MUMBAI: The Bombay High Court has rejected a request from 52 tenants of a demolished building in Ghatkopar (W) to include a new developer in their redevelopment petition, imposing a cost of Rs 5 lakh on them. In their ruling on Wednesday, Justices Ajey Gadkari and Kamal Khata observed, “It prima facie appears that the current application is moved and financed by the proposed respondent (developer) to establish an unenforceable right against the landlords and original developer.” In February 2024, the tenants had urged the HC to speed up the redevelopment of Kamla Bhuvan, a dilapidated structure on LBS Marg,…