Real Estate
RBI Takes Over Aviom India Housing Finance; Insolvency Proceedings to Begin
The Reserve Bank of India (RBI) has suspended the board of Aviom India Housing Finance due to governance issues and payment defaults. The company, led by Ms. Kajal Ilmi, has been facing significant challenges, leading to this regulatory intervention.
Real Estate
Raheja Developers Faces Insolvency Proceedings After Homebuyers File Petition in NCLT
Raheja Developers, a leading real estate company in Gurugram, India, is facing insolvency proceedings due to complaints from over 40 flat buyers. The National Company Law Tribunal (NCLT) has initiated Corporate Insolvency Resolution Proceedings (CIRP) aft
Real Estate Maharashtra
Homebuyers Alert: 314 Housing Projects in Maharashtra Face Insolvency
MahaRERA has issued a warning to homebuyers about 314 real estate projects in Maharashtra that are currently undergoing insolvency proceedings.
Real Estate
Supertech Township Gets Two Weeks to Finalize Settlement Proposal
NCLAT grants two weeks time for Supertech Township's settlement proposal. Asks firm to publish it on its website so that it can be accessed by all stakeholders.
Real Estate
NBCC Moves to Complete Stalled Supertech Projects, Affecting 27,000 Homebuyers
India's stalled real estate projects have left around 500,000 housing units in limbo. NBCC's proposal to complete Supertech's projects could bring relief to 27,000 homebuyers.
Real Estate Mumbai
Suraksha Group Takes Control of Jaypee Infratech, Appoints New CFO and Delists from Stock Exchanges
Mumbai-based Suraksha Group has taken control of Jaypee Infratech Ltd (JIL) and appointed Devang Pravin Patel as its new Chief Financial Officer (CFO). The company will also delist its shares from stock exchanges.