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two-properties-of-3c-developers-8216seized8217-in-noida-for-rs-34-crore-lotus-panache-default
economy
Two properties of 3C developers ‘seized’ in Noida for Rs 34 crore Lotus Panache default

File photo NOIDA: The district administration on Tuesday seized two properties of 3C Developers to recover Rs 34 crore from the realty firm to pay off buyers in Lotus Panache project in Sector 110, as ordered by the country’s top consumer court. The developer, however, claimed it has handed over the properties as “security deposit”…

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nbcc-enters-race-to-buy-jaypee-infra
economy
NBCC enters race to buy Jaypee Infra

NEW DELHI: Public sector construction company NBCC has entered the fray to buy insolvency-hit Jaypee InfratechICUBE. NBCC is the only new player to have come into the picture after the resolution professional invited expressions of interest for Jaypee Infratech, which includes land parcels, the Taj Expressway and Jaypee Hospital. This is the second time that…

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homebuyers-accuse-ireo-md-accomplice-of-rs-10000-crore-fraud
economy
Homebuyers accuse Ireo MD, accomplice of Rs 10,000 crore fraud

After marquee financial investors and hedge funds accused Ireo of embezzling $1.5 billion in one of the largest private equity scams ever, homebuyers have taken the real estate developer to the Supreme Court alleging misappropriation of Rs 10,000 crore and defaults on delivery of paid-for apartments and villas.A group of homebuyers have sought a series…

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rajasthan-rera-seeks-state-nod-to-make-registration-mandatory
economy
Rajasthan RERA seeks state nod to make registration mandatory

JAIPUR: To control the unregulated property dealers’ functioning, the Real Estate Regulatory Authority (RERA), Rajasthan has sent a proposal to the state government seeking permission to make RERA registration mandatory. The proposal has been mooted to bring more transparency and professionalism in the sector.As per the RERA Act, to safeguard interests of consumers, registration of…

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