27 Dec 2024

The National Financial Reporting Authority (NFRA) has penalized two auditors, Chetan Desai and Rakesh Rathi of Haribhakti & Co LLP, for professional misconduct during the audit of DB Realty (now Valor Estate Ltd) for FY 2015-16. Desai was fined INR 5 lakh and banned for five years, while Rathi received a INR 3 lakh fine and a three-year ban. The NFRA uncovered lapses, including failure to scrutinize INR 3,894.43 crore in guarantees and inadequate review of loans worth INR 1,326.92 crore, mostly to related parties. This action underscores NFRA's commitment to enhancing accountability in financial reporting and upholding auditing standards in India.Read more

26 Dec 2024

The Odisha government has instructed Revenue Divisional Commissioners and District Collectors to ensure the protection of tribal land rights in scheduled areas. Citing the Odisha Scheduled Areas Transfer of Immovable Property (OSATIP) Regulation, 1956, the authorities were reminded of the prohibition on transferring tribal land to non-tribals. This follows criticism of the previous government's 2023 decision, which temporarily allowed such transfers. The directive emphasises prompt restoration of illegally occupied tribal land and mandates thorough field inspections by officials. However, delays in resolving cases under OSATIP remain a significant concern, with thousands of cases still pending.Read more

26 Dec 2024

The Calcutta High Court ruled that tenants of private land acquired for the Joka-BBD Bag Metro corridor are entitled to compensation, even if landowners have already been paid. Justice Aniruddha Roy emphasized tenants' rights under Section 9 of the 1978 Act, which includes "any person interested in the land." The ruling stemmed from a land acquisition dispute near the Nepalese Consulate in Kolkata. The court upheld the acquisition, citing the public importance of the metro project while ensuring "just and appropriate compensation" for tenants. This decision reinforces tenant rights and highlights the complexities of balancing public infrastructure needs with legal entitlements.Read more

26 Dec 2024

The Telangana government has introduced the Record of Rights (RoR) bill to address long-standing issues stemming from the Dharani portal, including appeals, land record corrections, and succession disputes. Key amendments to the Bhu Bharati Act empower revenue officers, simplify processes, and allow applicants to track their requests via mobile devices, enhancing transparency. Over 9.24 lakh pending applications are set to be resolved, including 18 lakh acres in Part B land, granting farmers access to Rythu Bandhu benefits. By addressing land disputes and enabling the registration of Sada Bainamas, Telangana aims to streamline land administration and improve property transaction accuracy statewide.Read more

26 Dec 2024

The Municipal Corporation of Gurugram (MCG) enforcement team imposed a penalty of INR 500,000 on a builder for violating the construction ban under the Graded Response Action Plan (GRAP) Stage 4 in Sector 113. Despite the ongoing ban, construction continued at the site. The team halted work immediately and warned the project head to comply with the regulations. Additionally, a penalty of INR 5,000 was imposed on a motorcycle service center in Wazirabad for littering. Residents have expressed concerns that construction continues unchecked, contributing to worsening air pollution.Read more

26 Dec 2024

The Bombay High Court dismissed a plea challenging the Adani Group's tender for the INR 23,000 crore Dharavi Redevelopment Project, clearing the way for one of India's largest urban renewal initiatives. The project, in partnership with the Maharashtra government, promises sustainable living for over one million Dharavi residents, offering new flats with improved amenities and in-situ rehabilitation for eligible tenants. Despite controversies, the project adheres to government resolutions and ESG standards.Read more

26 Dec 2024

The Delhi High Court has ruled that tenants cannot dictate how landlords use their property, supporting an elderly couple seeking the eviction of a tenant. The case involved an 80-year-old war veteran and his 76-year-old wife, who needed their property for medical staff and caregivers due to severe health issues. Despite the tenancy ending in 2003, the tenant refused to vacate, arguing the landlords had sufficient space. Justice Tara Vitasta Ganju overturned a lower court's ruling, acknowledging the couple's dire medical needs supported by substantial evidence. The tenant was given six months to vacate, reaffirming landlords' rights to use their property as they see fit.Read more

25 Dec 2024

The Municipal Corporation of Gurugram (MCG) demolished over 20 unauthorized constructions on seven acres of land in Sector 62, reclaiming valuable public property for urban development. Led by nodal officer RS Batth, the operation involved 100 police officers and removed illegal structures, including nurseries, temporary jhuggis, and a borewell. Claims of legal disputes were dismissed, as MCG verified its rightful ownership. Batth issued a final warning to remaining encroachers, promising legal action for non-compliance. The reclaimed land will support urban planning in Sector 62. Similar actions in Sector 50 highlight MCG's commitment to combating encroachments and promoting sustainable urban growth.Read more

25 Dec 2024

Gujarat's government recently implemented a new policy to expedite the land distribution process for the Gujarat Industrial Development Corporation (GIDC). To help speed up the process, the policy establishes specific pricing for land in various types of industrial parks. Rates will be set at 100%, 125%, and 150% of the current jantri rates for less developed, moderately established, and developed estates, respectively. This new technique replaces the former system, which required several processes, including district-level appraisal and clearance from multiple departments. The adjustment is likely to assist MSMEs and investors by streamlining the process and addressing investment-related issues.Read more

25 Dec 2024

A recent audit by the Comptroller and Auditor General (CAG) highlighted significant lapses in the Yamuna Expressway Industrial Development Authority's (YEIDA) housing project management between 2005 and 2021. The report revealed policy and procedural irregularities, inadequate eligibility criteria, and financial mismanagement leading to stalled projects and financial losses exceeding INR 4,200 crore. Irregular allotments, weak financial safeguards, and delayed project timelines were common issues. YEIDA has since acknowledged deficiencies and implemented changes to tighten its allotment process, including stricter financial requirements, enhanced penalties for delays, and improved project accountability measures.Read more