New Delhi, April 14 (IANS) The Central Bureau of Investigation (CBI) registered 22 new cases based on the Supreme Court directions against various builders over their alleged nexus with officials of financial institutions and defrauding of homebuyers, an official said on Tuesday. The CBI conducted extensive searches at 77 locations spread across eight states/Union Territories in connection with these 22 cases, an official statement said.The searches were targeted at an alleged nexus between cert…
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New Delhi, March 18 (IANS) The Enforcement Directorate (ED) has restored immovable properties worth about Rs 650 crore to 2,312 genuine homebuyers in connection with the money laundering probe against the SRS Group, officials said on Wednesday.The restitution was carried out following an order dated March 11 by the special Prevention of Money Laundering Act (PMLA) court in Gurugram, allowing the return of attached properties to legitimate claimants who had suffered losses due to the alleged frau…
Mumbai, March 4 (IANS) Shares of real estate major DLF Limited fell nearly 4 per cent on Wednesday after the Supreme Court of India ordered a probe by the Central Bureau of Investigation into alleged irregularities linked to the Primus DLF Garden City project.The stock declined 3.77 per cent to close at Rs 568.15, down Rs 22.25 from its previous close of Rs 590.40. It opened lower at Rs 575.05 and rose to an intra-day high of Rs 578.45 before falling to a low of Rs 563.20 during the session.The …
New Delhi, Feb 13 (IANS) The Supreme Court has orally expressed strong disapproval over the functioning of the Real Estate Regulatory Authority (RERA) in several states, remarking that it was “high time” that the governments revisited their decision to constitute the regulatory body.The observation came from a Bench of Chief Justice of India (CJI) Surya Kant and Justice Joymalya Bagchi as it heard a special leave petition (SLP) filed by the Himachal Pradesh government challenging an order of…
Ghaziabad, Jan 29 (IANS) The Enforcement Directorate (ED) filed a supplementary charge sheet before a Special Court in Ghaziabad against a builder accused of diverting Rs 126 crore collected from home buyers for a project in Sector-119 in Noida, an official said on Thursday. The ED’s Lucknow Zonal office filed the supplementary charge sheet under Section 44 and 45 read with Section 3, 4 and 70 of the Prevention of Money Laundering Act (PMLA), 2002, against Unnati Fortune Holdings Limited (UFHL) …
New Delhi, Jan 29 (IANS) Cracking the whip against errant builders, the Enforcement Directorate (ED) attached three properties worth Rs 15.40 crore in Farrukh Nagar in Haryana’s Gurugram district, owned by Savyasachi Infrastructure, which allegedly duped home buyers and failed in timely delivery of dwelling units after collecting booking amounts, an official said on Thursday. “The ED’s Gurugram Zonal Office has provisionally attached the three immovable properties under the provisions of Prevent…
New Delhi, Jan 17 (IANS) The ED searched multiple premises in Haryana, including those belonging to former MLA Mahendra Pratap Singh, in connection with a realtor’s Rs 600 crore fraud with home buyers and seized jewellery and bank balances amounting to more than Rs 5 crore, said an official on Saturday.Enforcement Directorate (ED), Gurugram Zonal Office, conducted search operations at Faridabad, Palwal and Bhiwadi under the PMLA, 2002, against the Piyush Group of Companies and its erstwhile Pr…
New Delhi, Jan 10 (IANS) The Gurugram Zonal Office of the Directorate of Enforcement (ED) has provisionally attached immovable properties worth approximately Rs 585.46 crore in connection with a money laundering case involving M/s ADEL Landmarks Ltd. (formerly M/s Era Landmarks Ltd.) and its promoters, Hem Singh Bharana and Sumit Bharana, an official statement said on Saturday.The provisional attachment order was issued on Friday, January 9.According to ED, the attached assets comprise various p…
New Delhi, Jan 8 (IANS) The government-backed SWAMIH Investment Fund is expected to deliver more than one lakh homes across the country, providing much-needed relief to over four lakh people who were stuck in long-delayed housing projects, Ministry of Finance said on Thursday.The Special Window for Affordable and Mid-Income Housing (SWAMIH) Investment Fund was launched in November 2019 after approval by the Union Cabinet chaired by Prime Minister Narendra Modi.The initiative was created to provi…
Ahmedabad, Dec 26 (IANS) The Gujarat Real Estate Regulatory Authority (RERA), on Friday, implemented a comprehensive new Standard Operating Procedure (SOP) to ensure faster, more transparent and streamlined redressal of complaints filed by property buyers and other stakeholders. The SOP adopts a digital-first approach, strengthening the existing online system while clearly defining procedural timelines and responsibilities.The primary objective of the new SOP is to provide homebuyers with quicke…