#RealtyNewsRoundUp: Appellate Tribunal Stays NCLT Order On Jaypee ‘Fraud’ Land Deal
In a relief to Jaiprakash Associates, the National Company Law Appellate Tribunal stayed an order of the National Company Law Tribunal, which had directed the realty firm to return nearly 760-acre land to its subsidiary Jaypee Infratech. The appellate tribunal also admitted the petition filed by the three lenders — Axis Bank, Standard Chartered Bank and ICICI Bank — and issued notices to the resolution professional of the Jaypee Infratech.
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The South Delhi Municipal Corporation has become the "first" civic body in the country to generate solar energy by installing panels over rooftops of its over 55 buildings and earn a huge income in three months by selling surplus power to a power distribution company. The SDMC also plans to install solar panels over rooftops of its 400 buildings by June 2019.
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A move that would enable Maharashtra speed up the process of building affordable homes, the state government has made the Maharashtra Housing and Area Development Authority (Mhada) the planning authority for project implementation. Now, while developing the 114 layouts spread across areas such as Bandra, Dahisar, Goregaon, Kalachowki, Malad and Santacruz, the Mhada will be solely responsible for providing the amenities
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The Debts Recovery Tribunal (DRT) has ordered Pune-based DSK Group to pay a sum of Rs 131 crore to a set of debenture trustees within three months. In case the company fails to do so, these debenture trustees will be allowed to dispose of land parcels to recover dues. Under an agreement, the company was supposed to pay the debenture holders interest, but it kept defaulting since June last year.
Source: Media reports