Tag: Supreme Court

Latest StoriesRegulatory

SC Rejects Appeal Against HYDRAA Eviction Orders

HYDERABAD: On Friday, the Supreme Court dismissed a civil appeal from city businessman P. Satya Narayana, challenging eviction orders from the Hyderabad Disaster Response and Asset Protection Agency (HYDRAA). This ruling allows the Jubilee Hills House Building Cooperative Society to reclaim a valuable 2,000-square-yard property in Jubilee Hills. After the Telangana high court ruled in favor of HYDRAA and the cooperative society on August 21, affirming the eviction orders, Satya Narayana took his case to the Supreme Court. HYDRAA had issued notices to Satya Narayana, instructing him to remove a tin shed and nursery garden on the disputed land on…

Latest StoriesRegulatory

SC Denies Time Extension for DHFL Promoter’s Surrender

The Supreme Court declined to extend the deadline for Dheeraj Wadhawan, former promoter of Dewan Housing Finance Corporation, to surrender in connection with a bank loan fraud case. Previously, on August 5, the apex court dismissed the medical bail granted by the Delhi High Court last September and mandated his surrender within two weeks. Wadhawan is implicated in a substantial bank loan fraud exceeding ₹34,000 crores, reportedly the most significant case of its kind in India. “We are not willing to extend the surrender timeline as requested by Wadhawan. However, acknowledging his potential need for medical care as per reports…

Latest StoriesRegulatory

SC mandates fresh SIT to investigate Noida officials and builders’ collusion

NEW DELHI: The Supreme Court has instructed the establishment of a new Special Investigation Team (SIT) by the Uttar Pradesh Police to probe allegations of collusion between NOIDA Authority officials and builders regarding inflated land acquisition compensation claims paid to farmers. A bench consisting of Justices Surya Kant and Joymalya Bagchi has ordered the formation of a new SIT comprising three IPS officers to replace the previous team. The Supreme Court has also prohibited project development in Noida without an Environmental Impact Assessment (EIA) and prior court approval of the report by the green bench. The court mandated that the…

Latest StoriesRegulatory

CBI Files 22 FIRs on SC’s Order to Probe Builders-Banks Nexus

NEW DELHI: Following the Supreme Court’s orders, the CBI has filed 22 FIRs to investigate the alleged collusion between builders and banks, which has reportedly defrauded homebuyers in the NCR region, officials announced on Wednesday. The agency executed searches across 47 locations in Delhi and NCR after filing the FIRs, a spokesperson for the CBI confirmed. Entities like Jaypee Sports International Ltd, Jaiprakash Associates Ltd, Ajnara India Ltd, Vatika Ltd, Jaypee Infratech Ltd, Supertech, and Idea Builders are among those specifically mentioned in the various FIRs. The investigation also names several financial institutions, including State Bank of India, Indiabulls Housing…

Latest StoriesResidential

Homebuyers urge CJI, PM to let NBCC finish Supertech projects

Homebuyers from 16 halted housing projects by Supertech have reached out to Chief Justice of India B R Gavai and Prime Minister Narendra Modi, urging intervention to transfer these projects to state-owned NBCC instead of the NCR-based Apex Group. The buyers are requesting the Supreme Court to lift a stay imposed on a December 2024 order from the National Company Law Appellate Tribunal (NCLAT), which directed that these projects be handed over to NBCC (India) Ltd for timely completion. This stay was placed following a revival proposal submitted to the Supreme Court by Apex Group. “After enduring over a decade…

Latest StoriesRegulatory

SC Raises Concerns About Gurugram Court’s Cheque Bounce Cases

NEW DELHI: The Supreme Court expressed concerns regarding coercive actions taken by a Gurugram trial court against homebuyers, indicating it will review the situation based on substantial information it has. A bench comprising Justices Surya Kant and N. Kotiswar Singh directed the district and sessions judge in Gurugram to investigate the issuance of bailable and non-bailable warrants related to cheque bounce cases under the Negotiable Instrument Act aimed at recovering money from homebuyers. “We are receiving numerous reports regarding the Gurugram trial court’s conduct. We will investigate and determine appropriate actions,” noted the bench. This directive was given during the…

Latest StoriesRegulatory

SC Approves Adani Cementation’s Removal of 158 Mangrove Trees

(Representative Image) The Supreme Court has upheld the Bombay High Court’s decision allowing Adani Cementation to remove 158 mangrove trees for the construction of a jetty project along the Amba River in Maharashtra’s Raigad district. This project, which occupies an area of 1.26 hectares within the Coastal Regulation Zone (CRZ) designated for mangrove forests, is intended to facilitate the transportation of cement and other materials via waterways, alongside a conveyor corridor and access road to support a cement grinding and fly ash processing unit and a backup storage unit in Shahapur and Shahabaz. It aims to meet the increasing cement…

Latest StoriesResidential

Lotus 300 AOA Questions Noida Authority on 228 Unregistered Flats

NOIDA: The apartment owners association (AOA) of Lotus 300, a condominium located in Sector 107, has issued a legal notice to the Noida Authority for allegedly ignoring Supreme Court orders related to the registration of flats. According to AOA officials, despite receiving occupancy (OC) and completion certificates (CC) for four towers with a total of 228 flats on April 22, the registration process has not progressed. The AOA has expressed concerns about initiating contempt proceedings to safeguard the rights of homebuyers. AOA president Bhuwan Chaturvedi stated that 25 flat owners from towers 3 to 6 had completed their purchases and…

Latest StoriesRegulatory

CBI Rescinds Earlier Directive on India Cements

The CBI has urged the High Court to set aside its earlier ruling that acquitted India Cements in the quid pro quo case linked to YS Jaganmohan Reddy, as the agency has filed an appeal with the Supreme Court, which is still pending. This request was made during proceedings regarding Dalmia Cements’ petition to dismiss the case against them.

Latest StoriesRegulatory

SC Approves M3M Group’s Request to Substitute Attached Property

Supreme Court NEW DELHI: The Supreme Court has granted M3M Group’s request to substitute a property initially attached by the Enforcement Directorate under the Prevention of Money Laundering Act, 2002. A bench consisting of Justices P S Narasimha and R Mahadevan ruled that the property substitution is contingent upon nine conditions recommended by the ED. The bench stated, “We have heard Dr. Abhishek Manu Singhvi, senior counsel for the petitioner, and have considered the matter thoroughly. The petitioners, M/s. M3M India Pvt. Ltd. and M/s. M3M India Infrastructure Pvt. Ltd., have submitted an affidavit agreeing to the stipulations. While we…