The Competition Commission of India (CCI) is scrutinizing several cases against developers. Most of the cases they are investigating are similar to the complaints received against real estate developer DLF. Flat buyers had filed a complaint against construction major DLF in May 2010, challenging the delay in possession and alleged arbitrary changes to the building plan and structure. DLF’s project Belaire was to originally consist of five towers with 19 floors each, but DLF later increased it to 29 floors. The DLF case is with the Competition Appellate ...
#Major#Competition Appellate Tribunal#CCI#Competition Commission Of India#Real Estate Player

The Andhra Pradesh high court and Wakf Tribunal had passed a judgement in favour of the Wakf Board in relation to Lanco Hills, the Rs. 5,500 crore real estate project.  As per the judgement LancoInfratech Ltd. was barred from selling properties developed in the location previously owned by Wakf Board to third parties. This resulted in a halt for the development of Lanco Hills, the Rs 5,500 croreproject from the infrastructure developer. The Wakf Board is an institution from the government which manages Muslim religious and community land in India. ...
#S. Pochender#Supreme Court#High Court#Chief Executive#India

  In a major respite to the infrastructure firm Lanco Infratech, the Supreme Court on Tuesday stayed orders of Andhra Pradesh High Court issued last month that barred the company from continuing construction activities at its major township project in Hyderabad. The high court had on 3 April observed that the ...
#Wakf Board#Andhra Pradesh High Court#Hyderabad#S. Pochender#Apex Court

  The government may not look forward to building new shipyards in the country proposed in the Maritime Agenda, as the existing ones are already straining under pressure to find business.  "Presently there is no demand, the existing shipyards are not getting business as expected," a Shipping Ministry official told PTI.  The government last year, while unveiling the Maritime ...
#West Bengal#Andhra Pradesh#Kerala#Tribunal For Shipping#India

  A real estate developer Unitech has been ordered to pay Rs 6.6 lakh to a resident of Rohini, Amrit Lal Chawla, for "raising illegal demands from time to time and then refusing to refund the booking amount" when Chawla wanted to cancel the booking. The District Consumer Disputes Redressal Forum(northwest district) says the actions of Unitech Ltd-the opposite party, along with Unitech Reliable Projects Ltd and an agency-were "clearly unjustified" and amounted to ...
#District Consumer Disputes Redressal Forum(northwest#Rakesh Kapoor#Unitech Reliable Projects Ltd#President#Real Estate Developer

  Mr Ajay Chandra, Managing Director Unitech has announced today that the company is to exit telecom business and shift its focus to its core business, real estate. He also added that the decision of the company to enter into telecom business was a mistake.  He also said that the company’s core business will remain real estate and Unitech will not be bidding for new telecom licenses this year.  In the last two years, since the 2G scam has hit the telecom industry, Unitech’s core business has taken the worst beating. It is now ...
#Managing Director#Real Estate Sales#Norwegian#Company Law Board#Supreme Court

  The Union ministry of housing & urban poverty alleviation has snubbed to dilute the penalties to be imposed on non-compliant promoters in the final version of the Real Estate (Regulation and Development) Bill, despite industry disagreement to the thought of sending the offender to jail. The latest draft legislation, expected to be taken up by the cabinet soon, has proposed up to three years jail or/and a penalty up to a tenth of the estimated cost of the real estate project in question for promoters willfully failing to comply with some ...
#Separate Bank Account#Real Estate Appellate Tribunal#State Legislature#Real Estate Promoters#Real Estate Agents

This is what happened so far - The Income Tax department demanded Rs 11,000 crore on Vodafone's $ 11.2 billion acquisition of Hutchinson's Indian telecom assets in 2007. In November 2010, the Supreme Court asked Vodafone to deposit Rs 2500 crore along with a bank guarantee for Rs 8500 crore. This deposit amount could be withdrawn by the Income tax department but it had to be returned to Vodafone if the final judgement was in favour of Vodafone.  In January, 2012, ...
#India#Amount#Vodafone#Supreme Court#Bank Guarantee

UAE based telecom giant, Etisalat has filed a petition against Shahid Balwa and Vinod Goenka, promoters of Swan Telecom on account of “fraud and misrepresentation”. This came in after the telecom giant's JV in India , Etisalat DB announced closure of operations though there were pending cases against the company filed by its vendors, Reliance Infratel and Reliance Communications . A case was filed by these vendor  companies at the TDSAT (Telecom Disputes Settlement Appellate ...
#Etisalat DB#India#Etisalat UAE#Reliance Communications#UAE

  Supreme court judgement regarding Vodafone-Hutchinson transaction to speed up cross border deals The supreme court recently had asked the IT department to return tax levied during Vodafone's Hutchinson buyout by stating that transactions outside the Indian Jurisdiction are not taxable. According to this judgement given by the supreme court several companies are now liable to get back their funds from the Income tax department which once charged taxes on transactions that took place outside the Indian border. The ...
#Economic Laws#Rohan Shah#Principal Associate#Managing Partner#Vodafone