Category: Legal Article

construction workers

BMC resumes infrastructure work amid lockdown, explains as the pre-monsoon measures.

April 10, 2020

Despite the lockdown, BMC has begun pre-monsoon road-resurfacing, desilting and bridge-building work to prevent accidents, flooding, water-logging and rainfall diseases — it has a little over a month and a half to complete the job. On 6 April, BMC resumed 112 works on roads, bridges and stormwater drains (including desilting) with 2,500 labourers. Additional Municipal […]

BMC resumes infrastructure work amid lockdown, explains as the pre-monsoon measures.more
Real Estate Investors

DHFL under resolution process, declared to not make any payments to lenders and bondholders.

April 8, 2020

Dewan Housing Finance Corporation (DHFL) said on Tuesday it would not make any interest or principal payments to lenders and bondholders as the firm is under resolution process. The Corporate Insolvency Resolution Process (CIRP) was started against the debt-ridden corporation in compliance with the 2016 Insolvency and Bankruptcy Code regulations with effect from December 3, […]

DHFL under resolution process, declared to not make any payments to lenders and bondholders.more
Court Order

WeWork filed a lawsuit in the US against SoftBank for breaching the contract.

Office-sharing giant WeWork sued SoftBank on Tuesday alleging that Japan-based technology investment group breached its contractual commitments by pulling out a $3 billion rescue plan. The case filed in a U.S. court in Delaware comes only days after SoftBank announced it was pulling out of the plan to acquire WeWork shares and shore up the […]

WeWork filed a lawsuit in the US against SoftBank for breaching the contract.more
construction

PMI: UK construction industry experiences the steepest decline in activity in March 2020.

April 7, 2020

Britain’s construction industry experienced the sharpest decline in activity following last month’s financial crisis, a survey revealed on Monday, despite seeing far less pressure than other sectors that are affected due to coronavirus pandemic lockdown. Also reported last week’s figures from financial data provider IHS Markit and the Chartered Institution of Procurement and Supply (CIPS), indicating the British business sector as a whole is shrinking at the highest pace in more than 20 years.  The construction Purchasing Managers’ Index (PMI) plunged to 39.3 in March from 52.6 in February, its lowest since April […]

PMI: UK construction industry experiences the steepest decline in activity in March 2020.more
Maharashtra RERA Rules in Place to Protect Homebuyers from May 1

K-RERA allows three months deadline extensions on all RERA projects.

April 6, 2020

The Karnataka Real Estate Regulatory Authority (RERA) has provided a deadline extension for all residential buildings throughout the city, taking into account the lockdown declared by the state and the union governments. Much of the mass exodus of migrant workers who decided to return to their hometowns before the coronavirus outbreak, the continuing construction projects […]

K-RERA allows three months deadline extensions on all RERA projects.more
High Court

High Court restricts ICRA ltd from publishing Indiabulls Housing Finance Ltd credit score.

April 4, 2020

The Delhi High Court on Friday restricted a private credit rating firm, ICRA Ltd, from allowing the Indiabulls Housing Finance Ltd (IHFL) credit score public until April 6. Justice Sanjeev Sachdeva’s interim direction came on a request to stop ICRA Ltd from downgrading IHFL’s credit score for failing to include any details the credit rating […]

High Court restricts ICRA ltd from publishing Indiabulls Housing Finance Ltd credit score.more
Property Registration

PMC: Pune citizens can now access property tax bills through digital platform.

April 2, 2020

The civic body took to the digital platform to issue property tax bills for the new fiscal (2020-21) after the current lockdown hindered it from printing and dispatching more than 10.5 lakh of them. The Pune Municipal Corporation (PMC) has now begun uploading the bills to the property tax payment network that can be accessed […]

PMC: Pune citizens can now access property tax bills through digital platform.more
Arvind Kejriwal

Delhi CM Arvind Kejriwal appealed landlords not to compel tenants to pay rent for a few months.

March 30, 2020

On Sunday, Delhi Chief Minister Arvind Kejriwal appealed to the landlords not to compel tenants to pay rent for two or three months, saying that the rent would be paid by his government if tenants fail to do so. “I appeal to all landlords not to compel tenants to pay rent for two or three […]

Delhi CM Arvind Kejriwal appealed landlords not to compel tenants to pay rent for a few months.more
Refund

SEBI orders Second Land Developers Pvt Ltd and its officials to repay ABG Shipyard LTD Rs 101 crore.

March 27, 2020

Markets regulator Sebi has ordered Second Land Developers Pvt Ltd (SLDPL) now established as Shivris Resources Pvt Ltd, and its senior officials to compensate ABG Shipyard Ltd in three months for illicit profits of a little over Rs 101 crore. The sum has to be paid along with an 8% annual interest rate. Second Land […]

SEBI orders Second Land Developers Pvt Ltd and its officials to repay ABG Shipyard LTD Rs 101 crore.more