abbielindrum5

economy
Directors of ABW Infrastructure declared absconders

NEW DELHI: Saket district court on Thursday declared Atul Bansal, Sonal Bansal and Ravi Shankar, promoters of ABW Infrastructure as absconders.The decision was taken based on several FIRs registered by Economic Offence Wing (EoW) against the directors and managing director of the company.Bail plea filed by the company’s director in Delhi high court has been…

Read more
economy
NCLT admits bankruptcy plea against Noida-based realtor Granite Gate

File photo The National Company Law Tribunal (NCLT) Thursday gave nod to start insolvency proceedings against NCR-based real estate firm Granite Gate Properties, after homebuyers complained about the firm’s inability to complete the project.Admitting the plea of three homebuyers, a two-member bench headed by NCLT President Justice M M Kumar allowed the insolvency plea against…

Read more
economy
Ascendas Singbridge to develop 16 million sq ft office space in 3-4 years

AMRAVATI: Ascendas Singbridge, the largest foreign real estate developer in India, plans to develop 16 million square feet office space in next three to four years to double the space owned and operated by it in the country, a top official said on Thursday.The Singapore-based company, whose core business is development of IT parks, has…

Read more
economy
Noida: 3C’s Lotus firm faces insolvency proceedings

NOIDA: The 3C Company on Thursday became the third major Noida-based developer after Jaypee and Amrapali to become embroiled in insolvency proceedings. In response to a plea by buyers who have not received their flats, the National Company Law Tribunal (NCLT) appointed an interim resolution professional to resolve the financial liabilities of Granite Gate Company,…

Read more
economy
Seven-member panel formed to consider GST rate cut on under-construction properties

NEW DELHI: The GST council on Thursday formed a seven-member ministerial panel to examine the proposal of giving a composition scheme to boost the residential segment of the real estate sector.The meeting was chaired by finance minister Arun Jaitley and his state counterparts. A decision on this expected in the next GST council meeting.Niranjan Hiranandani,…

Read more