Dilipkumar Lakhi, a prominent diamond merchant and Mumbai's highest individual tax payer till a couple of years ago, has beaten some of the city's top developers to emerge the highest bidder for the iconic Cadbury House.
Chennai Super Kings and Rajasthan Royals were suspended from the Indian Premier League for two years for betting activities of their key officials, Gurunath Meiyappan and Raj Kundra, during the 2013 season of cash-rich Twenty20 cricket tournament.
A fourth of the property market is cash-based and this has affected home sales after high value notes were scrapped.
Sotheby's International Realty was founded in 1976.
Hurun Report and GROHE India named Lodha Developers' M P Lodha and family as India's richest real estate entrepreneur with a wealth of Rs 31,960 crore, followed by DLF's vice chairman Rajiv Singh and Embassy group founder Jitendra Virwani in the second and third position respectively. Total wealth of top 100 Indians in the real estate sector stood at Rs 2,77,080 crore -- up 17 per cent against 2018. While Mumbai accounted for six of the top 10 and 37 of the 100 names, Delhi and Bengaluru had 19 residents each who featured on the list. Smita V Crishna of Godrej Properties featured as the richest woman.
The Supreme Court on Thursday observed that Board of Control for Cricket in India (BCCI) chairman Anurag Thakur prima facie appears to have committed matter of perjury in relation to demanding an intervention via a letter from the International Cricket Council (ICC) in order to sidestep the implementation of the Justice (Retd.) R M Lodha-led committee recommendations.
'I clearly recall how you immediately directed your administration to identify and allocate land, water, and other clearances in the shortest time possible.' 'That was the fastest decision-making process I have ever witnessed.'
The fierce litigious fight for little-known Birla Corporation marked the first major controversy for this storied and reserved business family.
'If the authorities go about completing this project the way they have proposed, this is going to cause a HUGE environmental impact not only on Malabar Hill but also on the rest of the city.'
Batting great Sachin Tendulkar and Dilip Vengsarkar are among 39 international players eligible to vote in the Mumbai Cricket Association (MCA) elections, scheduled to be held in Mumbai on October 4.
Board of Control for Cricket in India president Anurag Thakur conceded that the current crisis facing the BCCI is not in the best interest of cricketers but the Board will have to keep everything on hold till Supreme Court gives it's verdict on January 3.
Shapoorji, Kalpataru, Godrej pursuing Rs 60,000 crore opportunity in the region
Ace investor Rakesh Jhunjhunwala on Thursday said real estate developers are afflicted with very low return on capital as compared to bluechip stocks. Jhunjhunwala, who runs RARE Enterprises and is set to be a major shareholder in an upcoming airliner, said only the affordable housing developers can look at listing because of the volumes which they can deliver. It can be noted that very few developers like Macrotech Developers formerly Lodha, and DLF are listed on the bourses. Jhunjhunwala cited the case of DLF, saying the stock price plummeted to Rs 80 from Rs 1,300 per piece to illustrate the risks associated.
The legal battle for the Rs 5,000 crore (Rs 50 billion) worth assets of M P Birla group has entered a crucial stage with the main arguments for claimant Rajendra S Lodha's probate petition for Priyamvada Birla's purported will about to begin soon.
The sale of the Lincoln House in the Breach Candy area of south Mumbai, which used to house the US consulate, to the billionaire chairman of the Pune-based Serum Institute, makes it the largest real estate deal in the country's financial capital.
Lodha, Birlas file caveats in court; Birlas say will may be fabricated.
The world is full of family businesses that withered away with the passing of generations, creating much bitterness and ill will. Entire clans that used to be household names have become pale shadows of their once-mighty empires.
The Working Group set up to look into the implementation of the findings of Lodha Committee report on IPL spot-fixing scandal met representatives of Mumbai Indians and KXIP co-owner Ness Wadia, who stated that he is not in favour of inviting foreign teams to fill the void.
All eyes are on Congress chief Sonia Gandhi as top leaders converged at her 10, Janpath residence in New Delhi on Monday after a series of developments in the last 24 hours in Rajasthan, where a majority of the party MLAs have rebelled against Sachin Pilot and want Ashok Gehlot to continue as the chief minister.
The BCCI on Sunday announced an open tender process for allocating the cash-rich Indian Premier League's global broadcasting rights, a move that conforms to the Lodha Committee recommendations on transparency. "We are happy to announce the tender process for IPL Global Media Rights (TV and Digital)," BCCI President Anurag Thakur announced in a press conference in New Delhi.
Ajay Shirke raised termination issue, doesn't find support during the IPL Governing Council meeting in Mumbai.
Former president Sharad Pawar may have made a comeback in the Mumbai Cricket Association after being elected unopposed on Friday, but the Union Minister for Agriculture announced that he has no plans to return to the Board of Control for Cricket in India set-up.
The Supreme Court bench comprising of Chief Justice T S Thakur and Justices A M Khanwilkar and D Y Chandrachud warned if there is a false statement given by BCCI office bearers on affidavit, then perjury or contempt proceedings could be initiated.
Terming the Indian Premier League spot-fixing and betting scandal as "unfortunate", former India batsman V V S Laxman on Wednesday said the Board of Control for Cricket in India is capable of restoring the credibility of Indian cricket.
Former IPL commissioner Lalit Modi described the two-year suspension of Chennai Super Kings (CSK) and Rajasthan Royals (RR) as the "first honest decision taken on Indian cricket".
Shift to new business model to help companies cut capital cost, increase margins.
Justice Sengupta 'released' the matter before the start of the hearing on Monday, citing 'compelling circumstances' without giving further details.\n\n
The Madhya Pradesh Cricket Association (MPCA), which held its AGM on Monday, has decided that the erstwhile committee under the chairmanship of Jyotiraditya Scindia will continue to carry on its usual function in the State Association. With no nominations against the Scindia group and a Lodha Panel directive, which states that no elections should be held unless the first set of reforms are put in place, the general body said that it is only appropriate that old committee under the leadership of Scindia continues.
Rajendra S Lodha, the chartered accountant who has staked claim on the Rs 5000 crore (Rs 50 billion) assets of the M P Birla group
Prime property rates in South Mumbai at Rs 60,000 a sq ft remain high despite a slowing realty market.
Former India captain Sunil Gavaskar along with other enlisted in the Board of Control for Cricket in India's panel of commentators will have to sign an undertaking that they don't have any 'Conflict of Interest' as per the recommendations by the Lodha Panel.
While Pilot, who declared a week ago that he was placing no conditions for returning to the government, reportedly doesn't want a berth for himself, he has sought places for his followers.
To energise a dull real estate market, Mumbai developers are lining up prelaunches of residential apartments. This is a popular way to raise funds before construction begins.
Expressing dissatisfaction over the high court's verdict of dividing the 2.77 acre disputed site into three parts among Muslims, Hindus and Nirmohi Akhara, different religious groups have approached the apex court.
The two troubled Indian Premier League franchises, Chennai Super Kings and Rajasthan Royals, can breathe easy as members of the Board may not push for their termination at the Working Committee meeting to be chaired by newly appointed President Shashank Manohar in Mumbai on Sunday.
In a scathing report submitted in the apex court, the two-member COA -- comprising Vinod Rai and Diana Edulji -- has asked that "governance, management and administration" of the Board be handed over to them along with a professional group headed by CEO Rahul Johri till the elections are held.
India may have to pull out of next year's Champions Trophy in England if the Board of Control for Cricket in India implements Justice RM Lodha Committee recommendations in toto, Board president Anurag Thakur warned on Monday.
