Supreme Court ruling
Three days of the 90-day deadline given by the Supreme Court to the Sahara Group to repay over 22 million investors in its bonds have passed and it looks like the only way the Sahara Group can repay its debt is by selling off its assets. The Supreme court had confirmed Securities and Exchange Board [...] Continue Reading »
The recent Supreme Court ruling against Sahara Group implies an indictment of not only Sahara but the regulatory system as a whole. Sahara India Real Estate Corporation (SIREC) and Sahara Housing Investment Corporation (SHIC) were instructed by the Supreme Court to refund over Rs 24,000 crore collected through optionally fully convertible debentures (OFCDs). Sahara case [...] Continue Reading »
The recent Supreme Court ruling brings to light the fact that the builders need to be more transparent regarding the land they are developing and the buyers need to be more cautious about the status of the land on which their flats/houses are being built.The Supreme Court ruling has come as an eye-opener to all [...] Continue Reading »
The Supreme Court on Wednesday imposed Rs 10 lakh as a cost on the Greater Noida Industrial Development Authority (GNIDA) and directed it to hand over the 156 hectares of land in Greater Noida in Uttar Pradesh to the villagers and farmers. The Court upheld the Allahabad High Court order quashing the acquisition of the [...] Continue Reading »
