SC affirms Palais Royale sale to honest shelters

18 Dec 2023 CW Team

In a landmark decision, the Supreme Court has confirmed the legitimacy of the 2019 sale of Palais Royale to Honest Shelters in Pune. The ruling brings an end to a protracted legal battle surrounding the high-profile real estate transaction. The case involved intricate regulatory nuances and ownership disputes, with the apex court now providing a definitive resolution.

Palais Royale, a prominent property, faced legal challenges after its sale to Honest Shelters. The verdict establishes the legality of the transaction, offering clarity to the real estate sector and fostering confidence in property transactions.

The decision is expected to have far-reaching implications for the real estate industry, setting a precedent for resolving disputes related to property transactions and ownership. The court's ruling reinforces the importance of adhering to legal processes in real estate dealings, providing a framework for transparent and lawful transactions.

This resolution marks a significant milestone for both the parties involved and the broader real estate community, bringing closure to a contentious chapter and highlighting the importance of legal adherence in high-value property transactions.

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..