The Central Bureau of Investigation has filed a charge sheet against Ninex Developers Ltd and its director for alleged fraudulent activities in a Gurugram housing project. This marks the 11th charge sheet in the ongoing builder-banker nexus investigation, initiated by the Supreme Court, which involves 50 cases nationwide where homebuyers were allegedly cheated.
The Central Bureau of Investigation has filed a charge sheet against Ninex Developers Ltd and its director for alleged fraudulent activities in a Gurugram housing project. This marks the 11th charge sheet in the ongoing builder-banker nexus investigation, initiated by the Supreme Court, which involves 50 cases nationwide where homebuyers were allegedly cheated.
The Adani Group is exploring strategies to revive Formula 1 racing at the Buddh International Circuit in Greater Noida, with Karan Adani expressing strong interest in bringing the sport back to India.
Mining conglomerate Vedanta on Friday beat Gautam Adani's Group to make a winning bid for the acquisition of debt-ridden Jaiprakash Associates (JAL) for Rs 17,000 crore, according to sources. The bid value translates into Jaiprakash Associates' net present value of Rs 12,505 crore.
Booked between 2007 and 2011, out of the total 32,700 residential units under various Jaypee Infratech (JIL) projects, at least 20,000 homes are yet to be delivered. Supreme Court documents show that, till last March, Jaypee had issued 7,997 offers of possession to homebuyers while executing only 6,530 sub-lease deeds. These deeds offer homebuyers possession rights but, unlike registration, does not guarantee absolute ownership.
USEIL, promoted by 11 banks, MMTC, and a large brokerage firm Jaypee Capital has received in princial approval from Sebi for commencing contracts in currency derivatives.
Union Finance Minister Nirmala Sitharaman on Saturday announced a fresh Rs 15,000 crore 'SWAMIH Fund' for completion of 1 lakh units in stalled housing projects across various cities, a move aimed at providing relief to distressed homebuyers whose investments are stuck. In November 2019, the Centre announced a stress fund named 'Special Window for Affordable and Mid-Income Housing' (SWAMIH), to complete stalled housing projects across India.
Deal comes within days of Abu Dhabi's TAQA pulling out of agreement.
To tackle increasing demand, the Union Ministry of Power has urged central and state public-sector power-generating companies (gencos) and state power and energy departments to pick projects that are undergoing insolvency proceedings. The power ministry is looking at a quicker turnaround of these stressed power plants and enhancing power supply. Increasing demand is pushing states to scout for more power sources. "It is requested that state-owned gencos may be encouraged to participate in the corporate insolvency resolution process (CIRP) of stressed power assets, which are of strategic and commercial significance to the capacity addition plans of the states concerned.
The sale of Essar Oil was India's biggest deleveraging exercise undertaken by any debt-heavy group
India's real estate industry staged a rebound from 2020's downturn, with housing sales seen rising by over 50 per cent. The performance, though short of pre-COVID levels, has property developers hoping for stronger gains in the New Year and the beginning of a long upcycle. A strong foundation has been laid this year for revival in the Indian real estate sector, which is projected to reach $1 trillion mark by 2030 from $200 billion in the pre-pandemic year.
Apartment prices at Planet Godrej, a premium residential property developed by Godrej Properties in the tony Mahalaxmi area of Mumbai, had come down to as low as Rs 17,000 to Rs 18,000 a sq ft in the property market slowdown last year.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
A decline in the real estate sector, rising debt and the company's alleged involvement in 2G scam caused damage to the business and its image.
Property buyers fund the project cost and the entire debt and entire equity servicing, and yet, have no locus standi in the IBC process, points out Debashis Basu.
Vrde currently manages about $14 billion globally, and has invested nearly $500 million in India in the past five years
Additionally, promoter Naresh Goyal and Etihad Airways, which owns a 24 per cent stake in the airline, will infuse around Rs 2,000 crore into the airline, sources aware of the development said.
Jaypee, Essar, GMR, GVK, Lanco, Abhijeet groups debt rise despite falling cash flow, says UBS
Promoters' holding in private sector BSE 500 companies declined to 43.4% in Sept
In a trend that has taken off in a significant way, more and more developers are launching independent floors with lawns and basement/roof terraces in gated communities, to attract buyers, who otherwise opt for builder floors prevalent in the unorganised real estate sector.
The Aditya Birla Group announced the merger of its two holding companies, Aditya Birla Nuvo and Grasim, to make the holding structure clearer, ensure stable cash flows and unlock value in its financial services arm
This was mostly driven by Qatar Foundation Endowment's $1.26 billion investment in Bharti Airtel.
Its proximity to popular tourist destinations like Agra, which attracts 45 per cent of the international passenger traffic at IGI, could be diverted to Jewar.
Piramal will join the JSW, Vedanta and Tata groups, which are bidding aggressively for distressed assets, especially in the infrastructure and steel sectors.
The two nations share a problem of corporate debt gone bad that is so large and opaque.
Shapoorji, Kalpataru, Godrej pursuing Rs 60,000 crore opportunity in the region
Together, they controlled nearly Rs 26 lakh crore of assets at the end of FY16.
Hike in planned public-sector capital expenditure will be credit-positive for infra cos
Cross previous high of $72 billion in 2007 as Indian promoters overcome the selling taboo. Abhineet Kumar reports from Mumbai.
Experts attribute this to new launches in anticipation of a demand revival after the 2014 general elections.
For debt-laden companies, asset sales is an obvious solution.
Bharti Airtel , RCom and Tata Communications ended down between 0.1-1%.
For the past few weeks, the government has been in an overdrive, pushing stuck projects with the larger aim to improve the country's economic growth, which had fallen to a four-year low of 4.4 per cent in the first quarter of this financial year.
Delhi Metro, Yamuna-expressway and Tata Power's Mundra ultra mega power project in Gujarat are among the six ventures that have figured in the list of world's most innovative, impactful infrastructure projects prepared by international accounting firm KPMG.
The 30-share Sensex lost 54 points at end at 27,086 and 50-share Nifty shed 19 points to close at 8,096.
M-cap of 35% of BSE-500 companies, excluding financial ones, is below their debt or just a shade above
What are the upcoming locations and pull factors that determine housing prices in these two metros? What does this means for a buyer?
More than 10% (40 of 498 companies) have lost at least half their market value.
The Duncans Goenka group is in a spot of bother over the death of workers and non-payment of dues to employees.
The one common theme across companies that have rewarded shareholders is consumption.
