Aviation Minister urges airlines to prioritise passenger communication
Punjab-Haryana HC slams ED over IREO money laundering investigation
The Punjab and Haryana High Court criticised the Enforcement Directorate (ED) for conducting a ‘slipshod and unprofessional’ investigation into money laundering cases involving IREO and its functionaries. The court directed the ED's director to address the lapses in the probe. The court noted that the accused company's real estate assets were allowed to be disposed of without proper oversight. Justice Kuldeep Tiwari issued these directives after being informed of a November 6 order by a coordinate bench, in which Gulshan Babbar sought the cancellation of bail granted to IREO MD Lalit Goya..
Capitaland to buy 40% stake in SC Capital Partners for $209.31 mn
Singapore's CapitaLand Investment announced that it plans to acquire a 40 per cent stake in SC Capital Partners Group (SCCP) for $280 million. Additionally, the company intends to invest at least $524 million in SCCP. The acquisition of the 40 per cent stake in SCCP, a Singapore-based real estate investment manager, is expected to increase CapitaLand's funds under management (FUM) by $11 billion. The company explained that this move would strengthen its presence in Japan, its key market, where 76 per cent of the additional $11 billion FUM is located. In its statement, CapitaLand emphasised t..
Raheja Developers appeals to NCLAT over insolvency case in Gurugram
Raheja Developers has approached the appellate tribunal, NCLAT, to contest the initiation of insolvency proceedings against the company. This action follows the National Company Law Tribunal's (NCLT) admission of a plea by more than 40 flat allottees related to the Shilas project in Sector 109, Gurugram. The allottees had alleged defaults in delivery. The NCLT directed the commencement of the Corporate Insolvency Resolution Process (CIRP) for Raheja Developers. As part of this process, the tribunal appointed an Interim Resolution Professional (IRP), suspended the company's board, and placed i..