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.

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ED Files Chargesheet Against Ansal Properties and Promoters

NEW DELHI: On Tuesday, the Enforcement Directorate filed a money laundering chargesheet against Ansal Properties and Infrastructure Ltd. (APIL), a real estate firm based in Gurugram, along with its directors Sushil Ansal, Pranav Ansal, and Gopal Ansal. The prosecution complaint was submitted to a special Prevention of Money Laundering Act (PMLA) court by the Gurugram zonal office of the federal agency, related to alleged environmental law violations, according to an ED statement. Individuals identified in the complaint include APIL as well as its directors and shareholders: Sushil, Pranav, and Gopal Ansal. The company and its promoters could not be reached…

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SC grants bail to ex-DHFL promoters in loan scam case

NEW DELHI: The Supreme Court has granted bail to former DHFL promoters Kapil Wadhawan and his brother Dheeraj, acknowledging that an undertrial should not be detained indefinitely in relation to a multi-crore bank loan scam. In a ruling on December 11, Justices J K Maheshwari and Vijay Bishnoi stated that prolonged incarceration without trial undermines Article 21, which safeguards the right to life and personal liberty. The court emphasized that under Indian law, “bail is the rule, and jail is the exception,” a principle fundamental to criminal jurisprudence. It added that pretrial imprisonment must not evolve into punitive action without…

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Assembly passes 12 bills, including Karnataka rent changes

BELAGAVI: On Tuesday, the state Assembly approved 12 bills, including the Greater Bengaluru Governance (Second Amendment) Bill. This bill allows all MPs and MLAs who reside in Bengaluru and are on the city’s electoral roll to become members of the Greater Bengaluru Authority (GBA). Deputy Chief Minister D K Shivakumar, responsible for Bengaluru’s development, stated, “Public representatives who are voters in Bengaluru were previously excluded. Now, we will include Rajya Sabha member Sudha Murty, Union Finance Minister Nirmala Sitharaman, and certain areas from Chikkaballapura Lok Sabha constituency, represented by Dr K Sudhakar, in the GBA.” He added that the amendment…

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Bombay HC Nullifies ₹600 Crore Bandra Bungalow Probate

MUMBAI: The Bombay High Court has annulled a probate granted eight years ago concerning the landmark ‘Marina Manor’ bungalow in Bandra, valued at over Rs 600 crore. The court determined that the probate was secured through the concealment of important facts and false statements regarding the deceased’s family. This ruling, issued on December 11 by Justice Sharmila U Deshmukh, followed a petition filed under Section 263 of the Indian Succession Act. The court revoked the probate initially granted in November 2017 to Marina Manuel Fernandes for a will dated November 8, 2014, allegedly belonging to Marie Joseph Fernandes, who died…

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Income Tax Raids Brigade Enterprises’ Offices

Brigade Enterprises’ shares dropped by as much as 2%, reaching a day low of Rs 868.10 on the BSE on December 15. This followed the announcement that the Income Tax Department had begun search operations at its registered office and other linked locations, which took place from December 9 to December 13. In an official exchange statement over the weekend, Brigade Enterprises confirmed that it and its officers have fully cooperated with the authorities, supplying all necessary information. The company emphasized that its business operations are running smoothly without any interruptions. Currently, the stock is trading at Rs 886, with…

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Mumbai’s BMC Halts Prestige Towers for Air Pollution Violations

Representative AI image MUMBAI: The Brihanmumbai Municipal Corporation (BMC) has issued a stop-work notice to Prestige Towers located at Mahalaxmi due to non-compliance with pollution mitigation guidelines. The notice details multiple violations concerning air pollution controls. The notice, delivered by the BMC’s G-South ward on November 28, outlines that the developer failed to surround the construction site with a 35-foot tin barricade, to regularly sprinkle water on the site during demolition, and to utilize stationary or mobile anti-smog guns during loading and unloading, among other directives set by the civic authority. Officials from the G-South ward reported that over the…

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Odisha Govt Amends Stamp Rules to Simplify Property Valuation

BHUBANESWAR: The government has announced revisions to the Odisha Stamp Rules of 1952, designed to enhance property valuation and improve transparency in stamp duty assessments. These amendments, issued by the revenue and disaster management department under Section 75 of the Indian Stamp Act of 1899, are known as the Odisha Stamp (Amendment) Rules, 2025, and will take effect upon publication in the Odisha Gazette. Officials indicated that the modifications aim to ensure more scientific and equitable property valuations. According to the updated regulations, the sub-district valuation committee will utilize plot-wise fair market value data provided by tehsildars. In urban areas,…

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Nagpur: Probe launched over slum rehab project scam allegations

Certainly! Here’s the rewritten version of the content: NAGPUR: On Thursday, Industries Minister Uday Samant declared an inquiry into allegations surrounding a possible scam involving the BMC and the rehabilitation of slum inhabitants due to a road widening project in Marol’s Kondivita area. During a Calling Attention Motion (CAM) in the Legislative Council, Shiv Sena (UBT) MLC Anil Parab accused Assistant Municipal Commissioner (K-East) Nitin Shukla, Assistant Engineer Bhushan Rane, and Sub Engineer Vishal Kokate of bypassing proper procedures and deceiving slum dwellers into selling their homes to benefit builders. Samant announced that a Principal Secretary-level officer would handle the…

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NGT Approves Baner Project, Orders MPCB Oversight

PUNE: The National Green Tribunal’s western zone bench in Pune has permitted construction to resume on a real estate project in Baner, with monitoring mandated by the Maharashtra Pollution Control Board (MPCB) to prevent any breaches of noise and dust pollution standards. The bench, consisting of Justice Dinesh Kumar Singh (judicial member) and Dr. Sujit Kumar Bajpayee (expert member), stated in an order dated December 8 that the project representatives provided scientific test reports indicating that ambient air and noise levels were “within the permissible limit.” The NGT instructed the MPCB to inspect the site “within a week” to assess…

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ED Raids Angle Infrastructure, RP & Nauseva Buildwell in Delhi-NCR

CHANDIGARH: The Directorate of Enforcement (ED) from Gurugram Zonal Office conducted search operations in the Delhi-NCR region on Friday, targeting M/s Angle Infrastructure Pvt. Ltd., the resolution professional, and Nauseva Buildwell LLP along with its partners, under the Prevention of Money Laundering Act (PMLA), 2002. The searches were initiated based on evidence suggesting potential collusion during the Corporate Insolvency Resolution Process (CIRP) of the corporate debtor, resulting in the seizure of Rs 33 lakh in unexplained cash and various digital devices. The ED’s investigation was prompted by FIRs filed by Gurugram Police and the Delhi Economic Offences Wing, citing allegations…