Supreme Court
Sahara group of companies to face more trouble in future as ministry of corporate affairs (MCA) has expressed its support to market regulator Sebi’s June 23 order against the two companies of Sahara. Both Sebi and MCA work in tandem for protecting rights of small investors. Securities Appellate Tribunal (SAT) is scheduled to hear the [...] Continue Reading »
Supreme Court on Wednesday upheld an Allahabad High Court judgment cancelling land allotment in Shahberi village. Nearly 6,500 apartment and villa owners in seven residential projects in Noida Extension are nervous after the judgement. The verdict is, however, expected to delay projects in the area. Around 5,500 units in Shahberi have already been sold and [...] 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 »
The hoteliers were aggrieved by Mayawati government’s decision to cancel the allotment of land after allegations of the land worth crores being given away cheap. The Supreme Court on Tuesday upheld the allotment of land but asked them to pay almost triple the original price if they still wanted to retain the allotted land. A [...] Continue Reading »
The Supreme Court on Monday turned down the plea of the Greater Noida Industrial Development Authority and builders, including Supertech and Amrapalli, to stay the May 12 Allahabad high court order that quashed the authority’s notification, acquiring 156.3 hectares land in the village. The authority bought the land from farmers at a cheap price for [...] Continue Reading »
Market regulator SEBI on June 23 had directed two Sahara group companies — Sahara India Real Estate Corp (SIRECL) and Sahara Housing Investment Corp (SHICL) — to refund the money raised from investors through optionally fully convertible debentures (OFCDs) with an annual interest of 15 per cent from the date of receipt of money. Sahara [...] Continue Reading »
The Supreme Court has called for an amendment to the Prevention of Corruption Act to deal with the malaise, echoing the public discourse in the country. A vacation bench of Justice BS Chauhan and Justice Swatanter Kumar observed “In this country, if there are two laws that need to be changed or amended to act [...] Continue Reading »
If a tenant has paid the rent regularly according to the agreement, landlord cannot evict the tenant for at least five years. If present and prevalent market rent assessed and fixed between the parties is paid by the tenant, then the landlord shall not be entitled to take any action for his eviction against such [...] Continue Reading »
Sahara India Real Estate Corporation sought some time to file recent documents and the Supreme Court on Monday adjourned the matter for a week. Meanwhile, the Allahabad High Court has dismissed the application filed by the Sahara Group firms to recall and restore its earlier order of April 7, 2011 vacating stay and allowed market [...] Continue Reading »
The Supreme Court today maintained its stay on a Delhi High Court order that sought to restrain the Centre from recovering service tax on renting property for commercial use. A bench comprising Justices Mukundakam Sharma and A R Dave said that the apex court’s interim order of January 13 will continue till further orders. The [...] Continue Reading »
