Tag: Supreme Court India

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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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SC: Speculative Realty Investors Jeopardize Genuine Buyers

NEW DELHI: The Supreme Court has emphasized the misuse of insolvency proceedings in the real estate sector, driven by speculative investors who negatively impact genuine homebuyers. The court described these investors as a “slow poison” to the residential real estate industry, motivated more by profit than by acquiring property. A bench comprising Justices JB Pardiwala and R Mahadevan expressed concern that “trigger-happy” investors often seek quick exits from projects, undermining the interests of legitimate purchasers. It stated that such entities should not exploit the Insolvency and Bankruptcy Code (IBC) or enable dishonest developers to take advantage of existing loopholes. The…

Latest StoriesRegulatory

SC Approves Motilal Nagar Redevelopment via C&DA Model

NEW DELHI: On Monday, the Supreme Court upheld the Maharashtra Housing and Area Development Authority’s (MHADA) plan to redevelop Mumbai’s Motilal Nagar using the Construction and Development Agency (C&DA) model, dismissing challenges from local resident associations. A bench comprising Justices Vikram Nath and Sandeep Mehta rejected a special leave petition filed by three parties – Motilal Nagar Jankalyankari Samiti, Motilal Rahivasi Vikas Sangh, and Gaurav Arun Rane – against a Bombay High Court decision that facilitated the redevelopment of 143 acres in Motilal Nagar I, II, and III through the C&DA framework. Solicitor General Tushar Mehta, who represented MHADA, argued…