26 Sep 2023

The Securities and Exchange Board of India (SEBI) has imposed a 6-crore penalty on former DHFL (Dewan Housing Finance) promoters, including Kapil Wadhawan and others, for violating disclosure norms. This penalty comes after allegations that the promoters misled shareholders by misrepresenting their holding in DHFL and failed to disclose three companies with substantial holdings in DHFL. SEBI found that these entities were in violation of the Substantial Acquisition of Shares and Takeover (SAST) rules, as they did not make the necessary disclosures regarding their shareholding and voting rights from 2008 to 2011. They have been given 45 days to pay the fine.Read more

26 Sep 2023

The Vijayawada Municipal Corporation (VMC) has taken swift action following the arrest of two individuals involved in a fraudulent housing scheme. The incident unfolded when a plastic scrap trader, Rama Rao, suspected a fake payment receipt issued by someone named Masthan, raising concerns among authorities. Masthan and Sk Shakeela, operating under the guise of having VMC connections, promised affordable housing in Jawaharlal Nehru National Urban Renewal Mission (JNNURM) houses, targeting small-scale businessmen and daily wage earners. After collecting nearly 19 lakhs from ten victims, their deceit was exposed, leading to their arrest. The VMC and police have urged residents to avoid intermediaries in housing allocations, emphasizing official procedures and vigilance.Read more

26 Sep 2023

The Punjab and Haryana High Court has directed the Chief Secretary of Haryana to establish a mechanism preventing the registration of sale deeds for acquired land due to concerns regarding collusion between builders and the Department of Town and Country Planning. The court also instructed the Chief Secretary to requisition reports on acquired land, update revenue records, and make this information available to registrars and sub-registrars in Haryana. Additionally, an in-house inquiry has been ordered into the granting of licenses to private builders for developing residential colonies on government land, with a possibility of criminal proceedings against delinquent officers if required.Read more

26 Sep 2023

Chandigarh's Estate Office has been tasked with creating a detailed document that incorporates the Supreme Court's directives, recommendations from the Chandigarh Heritage Conservation Committee, and legal advice received thus far. The purpose of this document is to provide a comprehensive overview of the property registration issue. It will be shared with the administration, signalling a proactive effort to seek clarification on the matter. This step will lead the administration to address any uncertainties surrounding property registration, with a focus on transparency and adherence to applicable regulations.Read more

23 Sep 2023

The MBVV police have apprehended a gang that deceived home seekers on Mira Road with promises of affordable MHADA flats. A woman was duped of RS 10 lakh for two flats. Some gang members posed as MHADA officials, distributing fake allotment letters and payment receipts. The crime branch unit, under Inspector Aviraj Kurhade and Assistant Inspector Prashant Gangurde, diligently investigated the case, leading to the arrest of the gang red-handed. They were found with incriminating documents. The gang faces multiple charges under the IPC. Other victims are encouraged to come forward and report to the Bhayandar police station or helpline numbers.Read more

23 Sep 2023

In a bid to enforce environmental laws, the Tamil Nadu Pollution Control Board has imposed fines totalling ?6.3 crore on 13 high-rise buildings near Siruseri IT Park. The penalties were issued due to the absence of operational sewage treatment plants within gated communities, leading to the illegal dumping of waste into sensitive areas. The case, initiated by a concerned citizen and pending at the National Green Tribunal, highlights the state's commitment to environmental preservation. The legal proceedings are set to continue with the next hearing scheduled for October 9, 2023.Read more

23 Sep 2023

The Delhi government aims to increase construction worker registrations to 15 lakh by year-end, up from 13 lakh last fiscal year. This follows Chief Minister Arvind Kejriwal's concerns over insufficient registrations. Additionally, welfare scheme spending for these workers will see a twenty-fold rise, from Rs 12.66 crore to Rs 246 crore. The funds, sourced from a 1% cess on major construction projects, support various benefits, including financial aid, maternity benefits, and medical care. This initiative underscores the government's commitment to the welfare of this essential workforce.Read more

23 Sep 2023

In March 2015, the Bhubaneswar Commissionerate Police initiated a program encouraging house owners to provide tenant details to enhance citizen safety. Initially well-received, it was extended to women's hostels in January 2017. However, recent reports reveal a decline in compliance, with very few submission of tenant declaration forms. These forms, available at police stations and online, request tenant information. While the initiative remains optional, police stress its importance for security. It also offers a tenant verification service, but few have utilized it. A review by Deputy Commissioner of Police Prateek Singh seeks to understand the decline and reinforce the significance of this safety measure.Read more

22 Sep 2023

The dreams of over 6,000 Mumbai policemen to own homes have been thwarted due to alleged mismanagement in the housing society created for this purpose. Policemen have taken the matter to the Bombay High Court, seeking a halt to the scheduled October elections for the housing society. The turmoil revolves around irregularities in the formation of the voter list, including the alleged expulsion of the chief promoter and subsequent approval of the voter list by an assistant registrar. The civil writ petition also calls for an investigation into malpractices and illegalities within the housing society. This situation has raised concerns about the functioning and trust of the society.Read more

22 Sep 2023

SEBI, the market regulator in India, has announced an auction of Saradha Group properties in West Bengal with a reserve price of over Rs 3 crore to recover funds raised through alleged illicit schemes. The auction, scheduled for October 17, 2023, follows a directive from the Calcutta High Court and aims to compensate depositors who suffered losses when the Saradha Group collapsed in 2013 after raising around Rs 4,000 crore from 1.7 million investors. Potential bidders are required to conduct independent due diligence, and the successful bidder will bear transfer charges and taxes associated with the property.Read more