Supreme Court
Putting a property on rent has its pros and cons. On one hand one can expect passive income; on the other hand asking a tenant to vacate the premises often is an ordeal. The Supreme Court (SC) overruling the high court order mentioned that the Non-resident Indians cannot be asked to prove ownership of their [...] Continue Reading »
In a landmark judgment, the Bombay high court on Wednesday held that developers and landowners cannot escape liability of surrendering their excess land despite the repeal of Urban Land (Ceiling and Regulation) Act in 2007. The HC empowered the state to recover the excess land for public housing from private landowners for violations under the [...] Continue Reading »
In a verdict which upholds the National Consumer Disputes Redressal Commission (NCDRC)’s March 19 ruling, the Supreme Court has asked a Gurgaon-based realty developer – Ambience Pvt Ltd. – to refund Rs 33.38 crore maintenance fees charged from the residents of its project since 2002. The mentioned maintenance fees which Ambience has been asked to [...] Continue Reading »
The Supreme Court (SC) on Wednesday passed an interim order directing property developer DLF Ltd to pay within three months the Rs. 630 crore penalty imposed by the CCI (Competition Commission of India). This penalty was imposed for abusing its dominant market position. CCI chairperson Ashok Chawla talked about the implications of the ruling for [...] Continue Reading »
In just over 30 years, Nirmal Singh Bhangoo, the man behind Pearls Agrotech Corporation Ltd (PACL) which has been asked to return Rs 49,000 crore to its investors by Sebi by November this year, has metamorphosed from a milk seller near the Attari border in Punjab to the owner of 1.83 lakh acres of land [...] Continue Reading »
Away from the glass and steel spires of Gurgaon, a vast, dusty and virtually barren tract of land is at the centre of a row that threatens to derail not only the flourishing real estate sector, but also seal the fate of thousands of residential flats. The Supreme Court has ordered the Haryana government and [...] Continue Reading »
In a last-ditch effort to locate Sahara investors eligible for refunds, regulator Sebi has asked all such persons to submit their claims by next month, while the group claims to have returned the outstanding dues to almost all the concerned bondholders directly. Those having invested in various bonds issued by two Sahara firms, Sahara India [...] Continue Reading »
The Haryana government alleged move to acquire over 1,300 acres of prime land in Gurgaon from farmers and later de-notify it in favour of private builders has come under judicial scanner with the Supreme Court seeking details of sale deeds the state entered with companies to transfer ownership of land to them. The direction came [...] Continue Reading »
There is some good news for the debt laden Sahara group. Its chief Subrata Roy and other top officials are in the Tihar jail since March and the Supreme Court had allowed Roy to set up a tech savvy office within the premises of Tihar jail where he could hold meetings with the proposed buyers. [...] Continue Reading »
The Supreme Court last Wednesday stated that the real estate firm of Supertech to refund the principle amount to the flat owners who had applied for their refund before April 30th by the end of this month. The firm is going to refund around Rs 35 crore to the allotted people of twin towers Apex [...] Continue Reading »
