In its petition, Rameshwara Jute Mills, an MP Birla group company, has prayed that the board of directors of the Birla Corporation and other M P Birla group companies should be superseded by independent people, as after the death of R S Lodha, there was no one to represent the company. Opposing it, the Lodha camp submitted before the board that the petition was not maintainable and that there was no need to appoint any chairman of the group.
Realty major DLF's chairman Rajiv Singh remains the wealthiest Indian real estate entrepreneur with a wealth of Rs 59,030 crore, according to GROHE-HURUN India. With a wealth of Rs 42,270 crore, Mangal Prabhat Lodha and his family of Mumbai-based Macrotech Developers (Lodha Group) is at the second position. Arjun Menda & family of Bengaluru-based RMZ Corp debuted at the third position on the list, with a wealth of Rs 37,000 crore.
The Lodha Group has bought land parcels worth Rs 12,000 crore in Mumbai
The Supreme Court on Friday adjourned the hearing regarding the Justice (Retd.) R.M Lodha-led committee's recommendations and the Board of Control for Cricket in India's (BCCI) constant reluctance to accept all recommendations till December 14.
Chartered accountancy firm Lodha & Co has resigned as statutory auditor for Grasim Industries Ltd, a Aditya Birla group company, and city-based G P Kapadia & Co has been appointed as sole statutory auditors for the firm.
The patriarch of the Birla family, Basanta Kumar Birla, on Friday said that he was not worried about the 25 per cent stake held by Rajendra Lodha controlled M P Birla group in Pilani Investments as he and his grandson, Kumarmangalam Birla had now con
In the wake of the tussle between the Birlas and Rajendra S Lodha over the will of Late Priyamvada Birla, chartered accountants firm Lodha & Company said it was not seeking re-appointment as auditors of Indo Gulf Fertilisers Ltd.
Justice Rajendra Mal Lodha, who headed the committee that proposed the two-year suspension of Chennai Super Kings and Rajasthan Royals, says the Board of Control for Cricket in India is free to terminate the two Indian Premier IPL franchises.
Oberoi Realty has hit the top slot in Mumbai's ranking of the top-20 developers in terms of sales in 2021, evicting the Runwal group which was number one last year. The Lodha group which had occupied the top slot three out of five times since 2017 slipped to second place in 2020 and continues to be in the same position in 2021. The Oberoi group was in fifth place in 2019 and fourth place in 2020. This is the first time that it has occupied the number one position. The Runwal group which took the top slot in 2020 is down to third place in 2021.
The Supreme Court on Monday is likely to give the final order on the implementations of Justice Rajendra Mal Lodha Committee's recommendation in the Board of Control for Cricket in India including removal of the current office bearers, while the perjury charges against BCCI chief Anurag Thakur could also come up for hearing.
The BCCI said that forming a working group is aimed at finding the procedures to implement the order and should not be seen as a delaying tactic.
A see-saw battle of arguments between the Lodha camp and the Birla group, who are fighting for control of Priyamvada Birla's Rs 2,400 crore (Rs 24 billion) assets, on Thursday unfolded before the Supreme Court.
The Calcutta high court on Tuesday granted 10 days time to Rajendra Lodha to submit the original of the registered purported will of Priyamvada Birla by which he has been bequeathed the Rs 5000 crore
The Board of Control for Cricket in India's committee on Lodha reforms on Saturday included demarcation of functions performed by honorary office-bearers and paid professionals to the list of reservations it has about the implementation of the Supreme Court order.
Among the 30 tallest residential buildings in the world, India boasts of five buildings, including World One.
The Board of Control for Cricket in India on Monday named former captain Sourav Ganguly in the four-member panel to study the Justice Rajendra Mal Lodha committee verdict on the Indian Premier League spot-fixing scandal of 2013.
Registration of housing properties in the Mumbai municipal region increased 35 per cent year-on-year to 7,556 units during this month on rising demand, according to Knight Frank. The registrations for September 2021 were 87 per cent higher compared to the pre-pandemic period of September 2019. "Mumbai BMC region (Churchgate to Dahisar and Colaba to Mulund) recorded its best September month performance. Recording 35 per cent YoY growth in property registrations in September 2021, 7,556 units is a 10-year best performance in the month of September," Knight Frank said in a statement.
Women and child development minister Mangal Prabhat Lodha made the announcement in the legislative assembly while replying to a debate on the issue.
With the Birlas yet to file their objections to their auditor Rajendra S Lodha's claim over M P Birla group, a late claimant to the Rs 5000 crore (Rs 50 billion) pie decided to adopt a wait and watch policy for the time being.
Godrej Properties, part of the Godrej group, may float an initial public offer of about Rs 500 crore (Rs 5 billion) in the next three months, said a banker close to the development. The company plans to sell 9.4 million equity shares in the IPO, which will constitute 13.5 per cent paid up capital of the company, the draft red herring prospectus filed by it showed. The company also plans a pre-IPO placement of 2.4 million shares with investors, the company said.
A division bench comprising Justice P C Ghose and Justice T K Dutta, while setting aside the order of Justice K J Sengupta appointing the four administrators to the estate, directed Lodha not to sell any part of it or spend any amount from it except for its maintenance.
India's residential market is expected to sustain demand momentum despite rise in mortgage and property rates as sales this year across the top 7 cities are likely to breach pre-pandemic level of 2.62 lakh units, industry players said. After braving four back-to-back disruptions in form of demonetisation, RERA, GST and COVID-19 in the last 6 years, industry experts feel the housing market is going through a lot of structural changes and is now at the start of a long-term upcycle. Homebuyers body FPCE gives credit to the Real Estate Regulatory Authority (RERA) under the Real Estate (Regulation & Development) Act, 2016 for this improved buying sentiment.
Some of the country's largest listed real estate developers - DLF, Prestige Estates, and Puravankara - are foraying into the Rs 50,000-crore residential property market of Mumbai, where home prices are among the highest in the world. All of them are set to launch residential projects in the financial capital of the country, where the market is dominated by players such as Runwal, Lodha, and Oberoi Realty, among others. Leading the race is Prestige, which has lined up 6 million square feet (msf) of new launches in the city across Mulund and Byculla in the third quarter of this financial year (2021-22).
In a crucial victory for Birlas in their legal battle against Rajendra S Lodha for control of the M P Birla group, Calcutta High Court on Friday dismissed a petition seeking quashing of criminal proceedings against him and three others.
It is learnt that all 37 affiliated units have communicated with the BCCI with 24 submissions taking place while 13 others have given in writing that they have started the process.
In an explicable move, two joint secretaries of Delhi & Districts Cricket Association (DDCA) have a written a letter to BCCI president Anurag Thakur seeking "expulsion of seven directors" including former Test opener Chetan Chauhan for supporting Lodha Panel reforms.
In Mumbai, developers like the R K Jatia and Lodha groups have launched or reopened ultra luxury residential projects, complete with limousine and concierge services.
Indian real estate saw 14 such private equity (PE) exits, worth $457 million (around Rs 2,285 crore) in 2011. Of these, promoters bought out existing PEs or other financial sponsors in eight deals, according VCCEdge, the research platform of VCCircle.
Buyers are looking for deals at half the price sellers are asking for.
Real estate developers are banking high on ultra-luxury projects.
The Supreme Court on Friday refused to quash the criminal proceedings initiated by an employee of the Birla Group against R S Lodha and three of his associates.
Difference due to pricing; up by a third in Mumbai since Jan, almost stationary in Delhi.
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