Yamuna Authority files complaint against SDS Infracon for Rs 1.82 Bn diversion

22 May 2024 CW Team

The Yamuna Expressway Industrial Development Authority (YEIDA) has lodged a complaint against SDS Infracon for allegedly diverting Rs 1.82 billion meant for a housing project. The complaint, filed with the Economic Offences Wing (EOW) of the Uttar Pradesh Police, accuses the company of misusing funds allocated for the ambitious Yamuna City project.

According to YEIDA officials, SDS Infracon received substantial advances from homebuyers but failed to utilise the funds for the intended purpose of completing the housing project. Instead, the company is accused of diverting the money to other ventures, leaving the Yamuna City project incomplete and homebuyers in distress. The allegations have prompted YEIDA to seek a thorough investigation and appropriate legal action against SDS Infracon.

YEIDA CEO Arun Vir Singh stated that the authority is committed to protecting the interests of homebuyers and ensuring that the funds are used responsibly. He emphasised the need for stringent measures to prevent such financial misconduct in the real estate sector. The authority has also urged affected homebuyers to come forward and share their grievances to strengthen the case against SDS Infracon.

The complaint highlights the broader issue of financial mismanagement in the real estate industry, where developers sometimes misuse funds, leading to delays and financial losses for homebuyers. YEIDA's proactive stance aims to set a precedent for accountability and transparency in real estate transactions.

As the investigation progresses, the outcome will be closely watched by stakeholders in the real estate sector, including regulators, developers, and homebuyers, who are all keen on ensuring fair practices and the timely completion of housing projects.

Infrastructure Urban

02 Jun 2026

VECV Sales Rise 7.8 Per Cent In May 2026

VE Commercial Vehicles recorded sales of 7,978 units in May 2026, compared to 7,401 units in May 2025, registering growth of 7.8 per cent. This included 7,789 units from the Eicher brand and 189 units from the Volvo brand.Eicher branded trucks and buses reported sales of 7,789 units during the month, up 7.3 per cent from 7,258 units a year earlier. In the domestic commercial vehicle market, Eicher sales rose 9.1 per cent to 7,375 units from 6,758 units in May 2025.Exports declined 17.2 per cent to 414 units from 500 units in the corresponding month last year. Volvo Trucks and Volvo Buses recor..

Table Space Strengthens DESYN Leadership Team

Table Space has announced strategic leadership appointments within DESYN, its integrated Design and Build business, as it looks to strengthen operations across key enterprise and GCC markets in India. DESYN was launched as a strategic extension of Table Space’s workspace solutions portfolio to meet rising demand for agile, high-quality and rapidly deployable enterprise workspaces.Shruti Ookabhoy has joined DESYN as Executive Director and will lead the Design vertical, focusing on design capability, operational excellence and team development across markets. She brings over 22 years of experi..

Concord Associate Bags Rs 2.79 Bn Kavach Order

Concord Control Systems said its associate company, Progota India, has received a Rs 2.79 bn domestic order from Indian Railways for the supply, installation, testing and commissioning of on-board Kavach 4.0 loco equipment.The order is scheduled for execution within 12 months and strengthens Concord’s role in India’s railway safety and signalling ecosystem. Kavach is India’s indigenous automatic train protection system, designed to improve operational safety by helping prevent signal passing at danger and reducing collision risks.Gaurav Lath, Joint Managing Director, Concord Control Syst..