UP-RERA expresses strong displeasure against PDA

28 May 2024 CW Team

In order to ensure the registry and possession in favour of the allotees, Sanjay Bhoosreddy, chairman of the Uttar Pradesh Real Estate Regulatory Authority (UP-RERA), referred all nine matters to the court of the RERA Adjudicating Officer. He expressed strong displeasure with the PDA's delaying tactics. While hearing nine of the Alaknanda project's allottees' complaints for the execution of orders issued in March 2023, Bhoosreddy noted that the promoter had gotten the completion certificate in January 2024. These allottees received a relief of possession with interest for the delay in March 2023 from RERA. Even after being given ample time to comply with the RERA's requirements, the promoter chose not to execute the sale deeds in the names of these allottees. Additionally, he gave the go-ahead to issue recovery certificates for the payment of interest for the delay starting in 2016 at the rate of SBI MCLR+1 percent. Because the development authority in question is financially harmed, the financial responsibilities only grow over time. He anticipated that the planning authorities would act quickly to complete registrations and give the allottees possession.

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..