Odisha RERA Orders Builders to Submit Quarterly Reports and Audits

31 Dec 2024 CW Team

The Odisha Real Estate Regulatory Authority (ORERA) has directed all promoters to submit quarterly progress reports (QPR) and annual audit certificates, even if their projects receive RERA registration partway through the year. This move comes after ORERA observed that some promoters were not submitting the required reports, which keep buyers informed about the status of ongoing projects. ORERA’s order highlights that promoters granted registration close to the end of a quarter or financial year were neglecting to submit the QPR and annual audit certificates. The authority clarified that all promoters, irrespective of when their registration is granted, are legally obligated to submit the reports for the period they are registered. Real estate expert Bimalendu Pradhan noted that these reports are crucial for protecting buyers and ensuring timely project completion. In addition, ORERA has revised the QPR format, requiring builders to provide more detailed information, such as the number of residential and commercial units or plots to be developed, booking status, and details of project facilities like community halls, lifts, sewage treatment plants, and firefighting systems.

Building Material

18 Sep 2025

Ambuja Cements Drags JSW Cement to Court Over ‘Kawach’ Brand

Ambuja Cements, part of the Adani Group, has filed a trademark infringement case against JSW Cement in the Delhi High Court, alleging that its rival copied the ‘Kawach’ brand with its new product ‘Jal Kavach’.Justice Manmeet Pritam Singh Arora issued summons to JSW Cement and its subsidiary, JSW IP Holdings Pvt Ltd, while referring the matter to mediation. Hearings are scheduled to resume on October 15 if no settlement is reached.Ambuja, which registered the ‘Kawach’ trademark in 2019, argues that the term ‘Kavach’—meaning shield—is the distinctive feature of its branding. ..

Bentley Systems Named Innovation Partner of the Year 2025 by Afcons

Bentley Systems, the infrastructure engineering software company, has been recognised by Afcons Infrastructure Limited as its Innovation Partner of the Year 2025 at the Innovation Partners 2025 Felicitation Ceremony in Mumbai. The award acknowledges Bentley’s contribution to Afcons’ engineering digitalisation journey through an enterprise agreement providing access to over 250 Bentley engineering software tools. This adoption has enabled Afcons to accelerate project delivery, standardise digital workflows, and strengthen innovation across its infrastructure portfolio. Among key i..

SBI Sells 13.18% Stake in Yes Bank to Japan’s SMBC

State Bank of India (SBI) has completed the sale of a 13.18 per cent stake in Yes Bank to Japan’s Sumitomo Mitsui Banking Corporation (SMBC) for over Rs 8,889 crore. The divestment is part of a Rs 13,482 crore deal finalised in May with SMBC and seven private banks.Following the transaction, SBI’s shareholding in Yes Bank stands at 10.8 per cent. The deal, involving 4,134.4 million shares at Rs 21.50 each, is the largest cross-border transaction in the Indian banking sector.SBI Chairman C S Setty described the 2020 RBI-led rescue of Yes Bank as a pioneering public-private partnership, addi..