MahaRERA warns homebuyers against 314 insolvent housing projects
The 14th RAHSTA Expo, part of the India Construction Festival, will be held on October 9 and 10, 2024, at the Jio Convention Centre in Mumbai. For more details, visit: https://rahstaexpo.com
Special CBI court grants bail to former DHFL director in fraud case
A special CBI court has granted bail to Kapil Wadhawan, former director of Dewan Housing Finance Corporation Ltd (DHFL), in connection with the alleged loan fraud case involving Yes Bank. The court's decision, delivered by Special Judge A C Dagga, cited the need to balance individual liberty with societal interests, particularly given the delay in the trial process.The court acknowledged the serious nature of economic offenses, which have wide-reaching societal impacts, but stressed that prolonged detention without trial violates the constitutional right to life and personal liberty. Judge Dag..
Garuda Construction IPO subscribed 7.55 times on final day
The initial public offering (IPO) of Garuda Construction and Engineering received a strong response, with 7.55 times subscription by the close of the final day. The IPO attracted bids for 150.3 million shares, far exceeding the 19.9 million shares available, according to NSE data.Retail Individual Investors (RIIs) oversubscribed their portion by 10.81 times, while non-institutional investors subscribed 9.03 times. The Qualified Institutional Buyers (QIBs) portion saw 1.24 times subscription.Earlier, Garuda Construction raised Rs 750 million from anchor investors. The IPO, priced between Rs 92-..
Maharashtra RERA reverts to old website amid technical issues
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has temporarily switched back to its previous IT platform, Maha IT, after users encountered technical difficulties with the newly launched MahaCRITI website. This decision was made to prevent disruption during the ongoing festive season, ensuring smoother transactions for homebuyers and stakeholders.Manoj Saunik, Chairman, MahaRERA held a review meeting following numerous complaints about delays and challenges on the new MahaCRITI platform. In response, the authority opted to reactivate the old website, effective from October 5 at 11:..