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The Delhi Development Authority (DDA) has moved the Delhi High Court challenging a Delhi RERA directive that mandates registration of its housing schemes as real estate projects. DDA argues its public agency status exempts it from the Real Estate (Regulation and Development) Act's provisions. The case could set precedent for other government bodies.
The Bombay High Court has directed MMRDA to deposit INR 1,169 crore in its arbitration dispute with Reliance Infrastructure's MMOPL over cost overruns in Mumbai Metro Line 1. The court denied interim relief unless the amount is deposited by July 15, making stay on the award contingent upon compliance.
The Greater Hyderabad Municipal Corporation (GHMC) is planning to set up a dedicated tribunal to address the growing problem of unauthorized constructions. The initiative aims to fast-track complaint resolutions and enforce penalties, promoting stricter compliance with building norms.
SEBI has opened a settlement window from June 16 to September 16 for over 100 brokers linked to unauthorised algo trading platforms. Likely set at a uniform INR?1?lakh per case, the scheme targets brokers facing regulatory or tribunal proceedings. Those opting out will continue with full legal action .
Lenders have extended the resolution plan submission deadline for Jaiprakash Associates to June 24. The company is under insolvency with a debt exceeding INR 29,000 crore and was admitted to the process in April by the NCLT.
Paranjape Schemes has partnered with India Housing and Unity Small Finance Bank to enhance affordable housing access in Maharashtra. The collaboration aims to simplify credit linkages for economically weaker sections under the PMAY scheme. The tripartite alliance is expected to facilitate quicker loan approvals and project execution.
RBI told the SC it has issued rules to monitor how real estate builders use loan funds, aiming to prevent misuse and protect homebuyer interests.
The Mumbai NCLT has approved a 90-day extension for Lavasa Corporation's corporate insolvency resolution process. The decision gives more time to evaluate resolution proposals and finalize a plan for the debt-ridden township developer. The case has been under insolvency since 2018, with several delays in resolution.
The Delhi Development Authority (DDA) has moved the Delhi High Court challenging RERA's jurisdiction, stating the authority has overstepped by issuing directions regarding its projects. The DDA claims that RERA's orders interfere with its statutory functions, triggering a legal conflict over regulatory boundaries in the capital's real estate sector.
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