BUSINESS
After end of Covid third wave, commercial realty out of the woods
Commercial realty had taken a hard hit as a large number of workforce started working from their homes in March 2020 in the wake of the health crisis.With the economy reopening post a massive vaccination drive, many employees are now returning to their offices. Besides, demand for new office spaces too has emerged.
Trouble brews for Getamber Anand as ATS group company goes into insolvency
The proceedings were initiated last month after ICICI Prudential Venture made a plea to the New Delhi-based bench of the NCLT for claiming unpaid dues of around Rs 25 crore.
However, the company got a minor relief with the NCLAT directing ICICI Prudential to file a rejoinder within two weeks and put a stay till the next hearing on May 11.
For 20K Jaypee home buyers, no end to suffering even after 12 years
Stuck in long-drawn legal battles (the home buyers' case is now being heard in the National Company Law Tribunal, or NCLT), the decade-old plight is lingering that left more than 20,000 Jaypee home seekers running from pillar to post, and finally giving up.
How SC stood by Amrapali homebuyers, ensured funding for stalled projects
However, the spell of opulence did not last long for the firm's top management. On February 28, 2019, the Supreme Court sent the group's CMD Anil Sharma and two directors to police custody for siphoning off money invested by the homebuyers.
They continue to remain behind bars. However, their incarceration has not lessened the worries of thousands of homebuyers, who had invested their life savings in the company's projects.
Feuding brother exposes Rohtas Goel's Rs 3,000-cr scam, casts shadow on Omaxe
However, it was a melting point that threw light into the alleged scam, in which Rohtas Goel allegedly had unaccounted cash transactions to the tune of Rs 3,000 crore, according to the Income Tax Department.
Ola Electric set to launch autonomous car in about 2 years
Speaking to reporters at Ola FutureFactory in Krishnagiri district in Tamil Nadu, Aggarwal said that Ola will look forward to launching a car with indigenously-developed autonomous technology that will be a mass-level vehicle.
ICICI Bank Q4FY22 net profit at Rs 7,019, up 59% YoY
The net interest income (NII) of the lender increased by 21 per cent year-on-year to Rs 12,605 crore in Q4, from Rs 10,431 crore reported in the same quarter last fiscal.
Will recall e-scooters if found faulty: Ola's Bhavish Aggarwal
In an interaction with journalists at the state-of-the-art Ola FutureFactory at the Pochampalli town here, Aggarwal said that the company is making sure that each and every scooter goes through stringent tests on all fronts, especially the battery which is an all-crucial part, and the company will not hesitate in recalling batches if any scooter is found to be faulty.
Indonesia's export ban for palm oil may have cascade effect on India's edible oil prices
India imports roughly 80 lakh tonnes of palm oil from Indonesia, Malaysia and Thailand annually. Of the approximate six lakh tonnes per month import, almost three lakh tonnes come from Indonesia, according to Solvent Extractors' Association (SEA). Although the export ban will be effective five days later, it has already created a buzz in the Indian market with traders wary of the impending shortfall and price hike.
Entire industry not tainted, those in trouble 'bad apples': Anarock Chairman
Recently on March 25, the National Company Law Tribunal (NCLT) declared Noida-headquartered realty major Supertech Ltd as insolvent while admitting a plea filed by the Union Bank of India (UBI) over non-payment of its dues. "The cases being referred to are from times before the implementation of regulations such as RERA," Puri said.
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