Tag: Raheja Developers

CommercialLatest Stories

Gurugram: Property Registrations Halted in Raheja Commercial Project

GURUGRAM: The district town planner (enforcement) has instructed the sub-registrar of Manesar to halt property transactions related to Raheja Developers’ commercial project in Sector 84, as the project’s license was discovered to have expired on May 16, 2019. The license for a 2.3-acre commercial colony was not renewed in the designated timeframe, as per an official notice from the Department of Town and Country Planning (DTCP). According to rule 13 of the Haryana Development and Regulation of Urban Areas Rules, 1976, the licensee must file for renewal at least one month prior to its expiration. The DTCP’s order indicates that…

Latest StoriesRegulatory

NCLAT Bars Raheja Developers from Creating Third-Party Rights

The Principal Bench of the National Company Law Appellate Tribunal (NCLAT) in Delhi has prohibited Raheja Developers from selling units or land, thus preventing the creation of third-party rights. “With insolvency proceedings underway, it is clear that the management of the corporate debtor must not create any third-party rights in its immovable properties,” stated the NCLAT in its ruling. Earlier, homebuyers expressed concerns over the company’s assets being sold without guidance from the Interim Resolution Professional (IRP). The company’s advocates contended that such sales are necessary for maintaining the company’s operations and should include the unsold inventory. “It is our…

Latest StoriesRegulatory

ED Raids Raheja Developers Over Homebuyer Fraud Case

NEW DELHI: On Tuesday, the Enforcement Directorate reported the seizure of “incriminating” documents and asset details during searches of real estate firm Raheja Developers Ltd. and its directors, as part of a money laundering investigation linked to alleged fraud against homebuyers. The raids occurred on June 27 in Delhi-NCR and Mohali, Punjab. The ED’s money laundering case arises from several FIRs filed by the Economic Offences Wing (EOW) of the Delhi Police against Raheja Developers Ltd, its Managing Director Naveen Raheja, and others. The agency stated that the FIRs claim “substantial” sums were fraudulently collected from investors and homebuyers with…