Mattathara Housing Project: Relocating & Supporting LIFE Mission
UP Cancels Noida Land Allotment to M3M
The Uttar Pradesh government has cancelled the allotment of two land parcels in Noida to the M3M Group, citing discrepancies in the allocation process. This decision marks a significant development in the real estate sector and reflects the government's commitment to transparency and accountability in land allotment procedures.
The cancellation of land allotment underscores the government's resolve to address irregularities and uphold fairness in the allocation of land parcels. It reflects a proactive approach towards ensuring adherence to regulatory norms and preventing misuse of publi..
ED Kochi seizes shipyard company's assets worth Rs 120 mn under PMLA
The Enforcement Directorate's Kochi Zonal Office announced that properties valued at approximately Rs 120.20 million had been attached from the shipyard company under the provisions of the Prevention of Money Laundering Act (PMLA).
According to an official release from the central agency, the attached properties comprised 35 movable properties, including securities, imported machinery, bank balances, and 2 landing barges valued at Rs 100.07 million, along with 4 immovable properties valued at Rs 20.13 million.
The release stated that on May 10, ED Kochi provisionally attached pro..
Shriram Finance Sells Housing Finance Business
Shriram Finance has finalised the sale of its entire 85% stake in the housing finance business to Warburg Pincus for a whopping Rs 46.30 billion. This move marks Shriram Finance's exit from the housing finance sector, signalling a strategic shift in its business focus. The deal, valued at over Rs 54 billion including a stake sale and fresh equity infusion, positions Warburg Pincus as a significant player in the Indian housing finance market.
Shriram Finance's decision to divest its housing finance arm aligns with its broader corporate strategy, aimed at optimising its portfolio and conc..