Managing Director Vinod Goenka says the company is not looking at restructuring.
There is a convincing fundamental story in the real estate firm, despite legal problems.
Pimpri-Chinchwad New Town Development Authority, a local government body in Pune district, has cancelled a multi-crore township project of Mumbai-based DB Realty saying it had annulled "bidding for the selection of the developer". The authority has refunded the deposit of Rs 50 crore to the developer.
'The CBI suspects A Raja of favouring Swan Telecom, a wing of DB Realty. A chain of firms connected to DB Realty transferred over Rs 200 crore to a television network connected to M Karunanidhi's immediate family....'
Soon after a special CBI court acquitted all those accused the 2G spectrum allocation case, Somesh Jha spoke to DB Realty Managing Director Vinod Goenka at the crowded Patiala House premises.
D B Realty's share price went up by nearly 10 per cent to close at Rs 125.20 on BSE.
DB Realty Ltd is taking aggressive steps to come out of the shadows of the second generation telecom spectrum scam.
DB Realty claims its business is going as usual. It is developing 13 projects, which will add 20 million sq ft in the next four years.
In a statement to the CBI, which has been filed as part of the chargesheet in the 2G scam, Radia is also said to have alleged that Pawar could have had a major role in helping Swan Telecom obtain the licence and also get 2G spectrum.
Shahid Balwa and Vinod Goenka, the promoters of DB Realty, have a common background -- both are college drop-outs and came from families that, directly or indirectly, dealt in real estate.
Piramal Realty received equity funding from Warburg Pincus and Goldman Sachs in July.
Mumbai and Pune hotel projects put on hold for now.
The Enforcement Directorate is examining a request from the Central Bureau of Investigation asking it to attach properties of DB Realty worth over Rs 200 crore of DB Group under the stringent Prevention of Money Laundering Act.
RARE Enterprises purchased 12.50 lakh shares of D B Realty at an average price of Rs 90.21 apiece.
Sudden spurt could be seen as a sign of maturity or slowing in the sector.
There are pending buy orders for 4.8 million shares on the NSE and BSE.
The flow of funds to Kalignar TV begins on 23rd December 2008 and goes on till August 2009. The Finance Minister during that time was Pranab Mukherjee - the UPA's candidate for the post of Presidency.
Telecom firms floated by DB Realty and Unitech have been identified by the CBI's prosecutor as having been given preferential treatment in the award of licences by former communications minister A Raja.
High court to hear contrasting views on location in CRZ later this month, in the background of more than one rule change.
High court orders Swan Telecom's promoter Shahid Balwa, the director of Kusegaon Fruits and Vegetables, Rajeev Agarwal, and three firms, namely Dynamic Realty, DB Realty, and Nihar Constructions to plant 3,000 trees each in the Delhi's South Ridge forest area.
Shahid U Balwa, one of the promoters of the leading real estate company, DB Realty, as well as the controversial Swan Telecom (now Etilisat DB Telecom), has been questioned by the Central Bureau of Investigation.
The Central Bureau of Investigation on Wednesday summoned 2G scam accused Shahid Balwa for questioning with regards to audio recordings of purported conversation between its prosecutor A K Singh and another accused Unitech Managing Director Sanjay Chandra on the case
Let's take a look at some of the world-class buildings are coming in different Indian cities.
There's an undercurrent of fear in business circles these days
Nationalist Congress Party chief and Agriculture Minister Sharad Pawar's claims about not being acquainted with DB Realty and Swan Telecom promoter Shahid Balwa are false, according to a senior Bharatiya Janata Party leader from Maharashtra.
One of several jokes doing the rounds these days is about the launch of a new political party, called the Tihar Munnetra Kazhagam.
Tamil Nadu Chief Minister M Karunanidhi's daughter Kanimozhi was on Thursday questioned by Income Tax authorities for nearly 90 minutes about the Rs 200 crore transaction from Shahid Balwa-owned DB Realty to Kalaignar TV, in which she holds a minority stake. The 43-year-old Member of Parliament appeared after summons were issued by the department, as a Delhi court probing the 2G spectrum allocation exempted her from personal experience.
A Delhi court on Tuesday dismissed the bail pleas of Swan Telecom promoter Shahid Usman Balwa, his cousin Asif Balwa and their associate Rajeev Agarwal in the 2G spectrum allocation case.
While DB Realty sent out an official statement early evening, Unitech did that much later.
'There are indications of two streams of money flooding the coffers of Kalaignar TV. The first was from DB Realty. The second, which is not yet publicly disclosed, allegedly involves a sum of Rs 50 crore from another participant in the purchase of 2G spectrum. Investigators are also looking at a seeming clue thrown up by the famous Radia Tapes.'
The managing director of Kalaignar TV Sharad Kumar was on Monday questioned by the Central Bureau of Investigation in connection with the 2G spectrum allocation scam. Kumar was called by the investigators in New Delhi at CBI headquarters with regard to some issues related to the Rs 214 crore received by the channel from Cineyug and the role of Shahid Balwa promoted DB Realty in it. Kumar, is a minority stake holder in the channel.
Difference due to pricing; up by a third in Mumbai since Jan, almost stationary in Delhi.
Cineyug Films Director Karim Morani, an accused in the 2G spectrum case, was on Monday arrested and taken into judicial custody after a Delhi court rejected his bail plea. Special Central Bureau of Investigation Judge O P Saini refused the plea of Morani who is charged with facilitating the transaction of Rs 200 crore from DB Realty to Kalaignar TV, in which Dravida Munnettra Kazhagam Member of Parliament Kanimozhi holds 20 per cent stake.
During their twice-a-week meetings (interview in jail parlance) with family and visitors, these executives are also permitted to get home-cooked food. That's about all as far as luxury goes.
Money Matters Financial Services, whose managing director and two top executives were arrested by the Central Bureau of Investigation in relation to real estate scam, did a debt syndication for at least four real estate companies to the tune of Rs 5,300 crore (Rs 53 billion) since April 2008, an analyst report said.
The Enforcement Directorate (ED) on Wednesday issued show causes notices for alleged foreign exchange violations of Rs 3,805 crore (Rs 38.05 billion) to telecom firms and other entities as part of its investigation into the 2G spectrum allocation case.
DLF, Indiabulls Real Estate, HDIL, YES Bank, Union Bank of India and Maruti Suzuki are down 4-12% on NSE.
Money laundering is punishable under the provisions of PMLA.
During the arguments on the bail pleas, ED had argued that the accused had committed the offence of money laundering punishable under provisions of PMLA.
NCP president Sharad Pawar on Friday reiterated that the Income Tax Department's raids on Maharashtra deputy chief minister Ajit Pawar's relatives and aides came after his comparison of the Lakhimpur Kheri violence in Uttar Pradesh to the Jallianwala Bagh massacre during the British rule.
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