Tag: HDFC Bank

Latest StoriesRegulatory

CBI Files 16th Chargesheet Against Noida Builder, Bank Staff

NEW DELHI: The CBI has filed its 16th chargesheet in an ongoing investigation into alleged large-scale fraud cases involving homebuyers. This chargesheet accuses a Noida-based real estate firm and officials from two private banks of conspiring to defraud buyers and investors. The chargesheet has been presented before the Special Judge for CBI cases at Rouse Avenue District Court in New Delhi, as stated by officials. The CBI has charged “Saha Infratech Pvt. Ltd., its director, and officials from HDFC Bank Ltd. and ICICI Bank Ltd.” in connection with alleged fraudulent activities related to a housing project in Noida. The investigation…

Latest StoriesResidential

Homebuyers suffer as NCR property registration stalls due to strike

NOIDA: Manish Dixit has been visiting the sub-registrar’s office in Greater Noida for nearly three weeks, trying to complete the registration process for his newly purchased flat. Each visit has been met with disappointment. Dixit bought the apartment for Rs 80 lakh, financing Rs 65 lakh through a housing loan from HDFC Bank. While the payment formalities are complete, the final registration is on hold due to an ongoing strike by lawyers and deed writers protesting the Uttar Pradesh government’s move toward e-registration of property documents. The protests began on June 10, when deed writers halted their work in Greater…

Latest StoriesRegulatory

Ghaziabad: Builder Must Return Deed, Compensate Homebuyer

GHAZIABAD: The district consumer disputes redressal commission has partially upheld a complaint from an Indirapuram resident against the developers of Shipra Krishna Srishti. The commission found the builders liable for not providing the original registered sale deed of a flat to the lender as stipulated in a tripartite agreement. The commission has instructed the builders to deliver the original sale deed to HDFC and provide a photocopy to the complainant, Rajesh Bhalla, within 15 days. If they fail to comply, they must issue a public notice in two national dailies at their own expense, stating that the original deed for…

IndustryLatest Stories

HDFC Bank Funds ₹300 Crore Luxury Housing in Hyderabad

NEW DELHI: HDFC Bank has allocated Rs 300 crore towards an ultra-luxury residential project in Kokapet, Hyderabad, as developers seek structured financing in response to a cooling housing market and an increasing demand for high-end homes. This investment will facilitate the completion of the project, which has a gross development value of Rs 2,000 crore and is being developed by DE Blue Oak and P Mangatram. Transaction advisor CBRE has opted not to comment. Recently, there has been a surge in funding within the residential real estate sector as developers look for credit options amid a dip in sales. “There…

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

Bombay HC: Banks Can’t Claim Priority on PMLA-Attached Properties

NAGPUR: The Nagpur bench of the Bombay High Court has delivered a landmark ruling affecting financial institutions and the Enforcement Directorate (ED). The court determined that banks’ recovery laws cannot supersede the Prevention of Money Laundering Act (PMLA), highlighting the government’s priority action against ‘proceeds of crime’. A division bench consisting of Justices Mukulika Jawalkar and Nandesh Deshpande annulled an order from the appellate tribunal that permitted banks, including HDFC Bank and Punjab National Bank, to enforce secured interests over properties seized by the ED in a money laundering case involving alleged misconduct in coal block allocation. The court declared…

CommercialLatest Stories

Sonu Sood Leases Property to HDFC Bank for ₹11.75 Lakh/Month

NEW DELHI: Sonu Sood has leased a commercial space in Trade Centre BKC, Bandra East, Mumbai, to HDFC Bank at an initial monthly rent of ₹11.75 lakh. The lease is for a duration of nine years, starting at ₹11.75 lakh per month for the first three years, followed by a 15% rent increase after each subsequent three-year period. This information is based on property registration documents accessed through Square Yards via the Inspector General of Registration (IGR) website. The agreement was officially registered in February 2026. The lease includes a security deposit of ₹70.50 lakh, three dedicated parking spaces, and…

Housing FinanceLatest Stories

Areion Group Secures ₹936-Crore Bid for Aviom India Housing

MUMBAI: Areion Group has successfully secured the bid for Aviom India Housing Finance, a mortgage lender embroiled in fraud issues, after secured lenders unanimously favored its resolution proposal over a higher but conditional offer from Unity Small Finance Bank, according to sources familiar with the situation. Areion’s ₹936-crore bid is projected to enable a recovery of around 65% for Aviom’s lenders. Despite Unity Small Finance Bank initially offering the highest bid of ₹977.5 crore during the competitive auction, secured lenders supported Areion Group’s unconditional proposal. The preference was influenced by Unity’s conditional offer, which raised concerns about execution, as confirmed…

Housing FinanceLatest Stories

Unity Small Finance Bank Wins Auction for Aviom India Housing

MUMBAI: Unity Small Finance Bank has successfully bid for the bankrupt Aviom India Housing Finance, offering an upfront payment of ₹977.5 crore, according to sources familiar with the matter. Initially, six companies expressed interest in acquiring Aviom India Housing Finance under the National Company Law Tribunal (NCLT) process, with three ultimately participating in the auction held last week. Areion, a fund backed by Omkara Asset Reconstruction Company, and Authum Investment and Infrastructure were the other two bidders in the auction conducted by Ram Kumar, the RBI-appointed administrator and former general manager of Punjab National Bank. “The bidding involved 13 rounds,…

IndustryLatest Stories

HDFC Capital Advisors Exits Adarsh Developers Again

HDFC Capital Advisors, the private equity branch of HDFC Bank, has successfully exited its second investment of ₹1,100 crore in Bengaluru’s Adarsh Developers. This comes from a total commitment of ₹2,500 crore across four investments with the company. The platform was established in 2022 to develop 17 mid-income residential projects, totaling 10,000 units across 15 million sq ft, in key Bengaluru areas such as Bellandur, Gunjur, Hennur, JP Nagar, and Banashankari. HDFC Capital’s initial investment of ₹395 crore was exited in Q2 2024 with a gross internal rate of return (IRR) of 21%, while the second investment was exited at…