India's real estate industry staged a rebound from 2020's downturn, with housing sales seen rising by over 50 per cent. The performance, though short of pre-COVID levels, has property developers hoping for stronger gains in the New Year and the beginning of a long up cycle
Indeed, the Indian real estate sector has been transformed significantly over the last decade. This transformation has been accelerated further by the central government’s reformative steps to bring ‘Acche Din’ to the realty sector
Swiss-based LafargeHolcim in a statement to Reuters confirmed officials visited the Mumbai offices of ACC and Ambuja Cements and said the companies were fully cooperating with the authorities, but could not comment further as the matter is ongoing.
Chief Metropolitan Magistrate (CMM) of Karkardooma Court in January this year had ordered to registered an FIR against Rudra Buildwell Pvt Ltd, Mukesh Khurana and Babita Khurana under various charges dealing with cheating and criminal conspiracy.
RBI has allowed lenders to restructure their book which was not more than 30 days past due as on February 29, 2020. The credit cost that has to be provided on the restructured book is higher of 10 per cent or extant provisioning held on those assets.
Indian Bank's exposure to RHFL is only Rs 120 crore out of the total debt of over Rs 1,00,000 crore. It is to be noted that earlier Delhi High Court had stayed such classification by the lead bank Bank of Baroda on August 14.