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Brigade Enterprises shares slip after EC revoked for ₹2,100 crore Chennai project
Brigade Enterprises shares came under pressure after Tamil Nadu revoked environmental clearance for its Morgan Heights project in Chennai, though the company said all approvals had been obtained and challenged the order in the Supreme Court.
PM Modi Personally Monitoring, Cannot Disappoint Students: Centre To SC On NEET Paper Leak Case
The Supreme Court of India.
Supreme Court seeks govt, RBI response to plea for audit of banks' realty exposure
The Supreme Court has asked the government and the Reserve Bank of India for their response to a petition that wants banks' dealings with real estate projects to be reviewed. The court also wants an investigation into developers accused of misusing homebuyers' money. Several authorities and builders have been issued notices.
Supreme Court seeks govt, RBI response to plea for audit of banks' realty exposure
The Supreme Court has asked the government and the Reserve Bank of India for their response to a petition that wants banks' dealings with real estate projects to be reviewed. The court also wants an investigation into developers accused of misusing homebuyers' money. Several authorities and builders have been issued notices.
SC seeks Centre, ED responses on plea alleging Rs 14,000 crore diversion in Noida, Yamuna Expressway housing projects
The Supreme Court has issued notices to the Centre, Enforcement Directorate, RBI, Uttar Pradesh authorities, and several real estate firms. This follows a plea alleging diversion of thousands of crores collected from homebuyers in Noida and Yamuna Expressway projects. Advocate Prashant Bhushan highlighted a pattern of developers diverting funds and pushing projects into insolvency.
NCLT admits insolvency plea against Supreme Housing & Hospitality
The National Company Law Tribunal has admitted Canara Bank's insolvency plea against Supreme Housing and Hospitality. The real estate firm faces dues exceeding Rs 567 crore. This follows multiple failed settlement attempts and prolonged litigation.
SC to hear Vedanta's stay plea against Adani's Jaiprakash Associates takeover
Vedanta, owned by Anil Agarwal, had outbid Adani Group in one of the largest and most keenly tracked insolvency cases in the country. The committee of creditors, though, opted for the resolution plan offered by the Adani Group because of higher upfront payments. Vedanta has told the Supreme Court that the insolvency process lacked transparency and failed to maximise value for creditors. It alleged that the process followed by JAL's committee of creditors in approving the plan of the Adani Group was "unfair, opaque, and inequitable".
Supreme Court seeks timeline for CBI probe into NCR housing projects
The Supreme Court has issued a decisive order for the CBI to outline a clear timeline for its investigation into numerous real estate developments in the NCR. The court strongly stated that lingering delays would only intensify the suffering of homebuyers.
Arnya Real Estate, Supreme Universal raise Rs 1,000 cr real estate equity fund
Arnya Real Estate Fund Advisors and Supreme Universal have successfully raised over Rs 1,000 crore. This capital will fund redevelopment projects in Mumbai and Pune. The fund targets Rs 1,250 crore and focuses on equity investments. This initiative brings institutional discipline to redevelopment projects. It combines Arnya's investment expertise with Supreme Universal's execution capabilities.
Arnya, Supreme Universal raises ₹1030 crore for Mumbai-focused fund
Real estate projects need capital, including debt and equity, at various stages of their life cycle. However, the source of capital for residential developers is quite limited