Audit firm points out that the accounting rules do not permit companies to give interest-free loans even to their subsidiaries.
ED has come across two immovable assets - one flat in Dubai and one land parcel in London. It is examining the valuation of both properties, estimated between Rs 150 crore and Rs 200 crore.
Participants are keenly waiting for the January IIP.
Real estate developer Supertech on Friday was declared bankrupt by the National Company Law Tribunal (NCLT), a move that could have a bearing on 25,000 home buyers of the firm's ongoing projects in the Delhi and NCR region. Acting on a petition filed by the Union Bank of India for non-payment of around Rs 432 crore worth dues, the bankruptcy court ordered the initiation of insolvency proceedings against real estate firm Supertech Ltd, one of the companies of Supertech group. The NCLT said "there has been a default in payment of the financial debt" and appointed Hitesh Goyal as the Interim Resolution Professional (IRP) superseding the board of Supertech Ltd.
If you think that revenue officials are going berserk, acting on their own, while the government chants the mantra of 'ease of doing business', you would be wrong. These moves appear to have full official backing, points out Debashis Basu.
The actor's younger daughter, Soundarya, who is directing her father in an animation movie Sultan, got engaged to Ashwin Kumar in Chennai on Wednesday.
A US court has indicted three owners of a bankrupt Chicago-based real estate development firm for operating a Ponzi scheme that defrauded hundreds of investors, including Indians and Pakistanis, and three banks out of $43 million while claiming to be compliant with Sharia law.
Enhancing your credit score is the key to improving loan eligibility and securing a favourable interest rate.
According to property consultancy firm Knight Frank, only 19 states and UTs have a functional portal in place, that too with a lot of information dissymmetry across data points
The shops became a subject of a political controversy last week.
A survey conducted to find out the safest cities in India has thrown up some interesting results. The survey was carried out by 99acres.com, a real estate portal, and YouGov, an international internet-based market research firm.
The legal wrangling began within days of Maradona's death from a heart attack in Buenos Aires on Nov. 25.
Once the new real estate Act is implemented, developers won't be able to cheat you.
A growing number of investors from India are showing interest in Dubai as they look to capitalise on 60 per cent savings per square foot in the Dubai property market, a Dubai-based real estate company has said.
The bench, headed by Justice Patil, however, allowed a significant leeway for the developers in the judgment by permitting the state-level RERA Authority and the Appellate Tribunal to consider delays on a case-to-case basis, and not to cancel such projects or developers' registration in cases where the delay was caused due to "exceptional and compelling circumstances."
"The Board of the company has approved a proposal to further unlock overall shareholder value by transferring its infrastructure projects to a separate 100 per cent subsidiary, subject to compliance with applicable laws," REL informed the Bombay Stock Exchange.
'I want Atiq Ahmed's empire to end, I don't want him to be alive'
Das, a law graduate, was in politics from his college days and was elected as the Students' Union president at Gangadhar Meher College at Sambalpur, one of the oldest colleges in western Odisha.
Unitech alleged that the takeover of the management of the company by the Centre would make it difficult for them to deposit Rs 750 crore as directed by the apex court to safeguard the interests of homebuyers.
Zindaginama keeps its tone hopeful and steers away from making the stories tragic or depressing, observes Deepa Gahlot.
Ccertain tax advantages are attached with HUF under the income tax and wealth tax laws.
Sources said much has been done to ease the tax burden of the middle classes in the last five years, and that such a measure affects only a limited segment of people when the focus should be to put money in rural areas. Archis Mohan reports.
Currently, there are related party transactions in four areas -- real estate leased to IGAL, simulator training facilities, General Sales Agreements (GSAs) for limited foreign markets and crew accommodation at Accor Hotels, the IGE statement said. Citing unaudited numbers for 2018-19, the statement said the related party transactions in the four areas accounted for Rs 150.12 crore or 0.53 per cent of IGAL's consolidated turnover.
Within hours of Company Law Board orders, the government on Thursday appointed its nominees on the boards of Maytas Infra and Maytas Properties, the companies promoted by the kin of disgraced founder of the Satyam Computer Services B Ramalinga Raju.
The chairman of mortgage giant HDFC Ltd in his annual letter to shareholders, also suggested a one-time restructuring of real estate loans, easing of external commercial borrowing rules and immediate changes in regulations to allow end-to-end execution of housing loans online.
If elected, he would be the first successful businessman without any political experience to become the US president.
Mahindra & Mahindra chairman emeritus Keshub Mahindra passed away this morning in Mumbai due to old age. Mahindra, 99, breathed his last this morning at home peacefully, said a person close to the family. After joining the company in 1947, he became the chairman in 1963.
Commerce and Industry Minister Piyush Goyal that the players in the sector should start lowering prices and, if the worst comes to the worst, write off investment as bad business decisions.
'Professors can teach even when they are 90 because they don't lose their skill with words. Go deeper and there's spirituality in it.'
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.
West Bengal Chief Minister Mamata Banerjee visited the building collapse site at Azan Molla Lane in the city's western periphery and assured local residents of stern action against illegal construction.
Manish Sabharwal tackles 5 criticisms of demonetisation.
Steven S Reinemund, Chairman and CEO, Pepsi, said though there were bottlenecks, India had the best managerial talent and was comparable with any other developed country.
'The main worry is lots of new investors coming into the markets in order to make a quick buck/easy money.' 'Those things are happening again and have happened in the past as well.' 'All that has led to problems.' 'We are not there yet, but will get there eventually.'
Section 19(4) of the RERA Act entitles allottees to a refund if the developer doesn't comply with the terms of the sale agreement.
States such as Maharashtra have made it mandatory for developers to register the ongoing projects
If they are made accountable, bad loan cases will shrink dramatically, recoveries will rise, and the NCLT process will be more manageable, asserts Debashis Basu.
The party also dismissed as 'absolutely false' the claim that Young Indian Ltd, the company formed in the wake of financial troubles concerning Associated Journals Ltd, was a 'real estate company'.
