National Housing Bank set to conduct forensic audit of SRG Housing Finance

Amid growing concerns over dubious lending practices, the National Housing Bank has initiated a forensic audit of SRG Housing Finance. This scrutiny will investigate allegations of fictitious loans, including unsupported accounts and discrepancies in repayment records. Auditors will delve into consumer data and loan origination processes to uncover any fraudulent activity, building on earlier findings that flagged possible fictitious loans ranging from ₹300 to ₹400 crore.

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Delhi HC directs DDA to process property conversion applications within two months

The Delhi High Court has mandated the Delhi Development Authority to swiftly process the 1,373 pending property conversion applications that residents have submitted after paying the required charges. Expressing frustration over the ongoing delays and the lack of a defined timeline for policy finalization, the court has directed the Ministry of Housing and Urban Affairs to draft a future policy.

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ED arrests Ozone Urbana Infra Developer's CMD in ₹927.22 crore homebuyer alleged fraud case

Vasudevan was arrested on September 30 under Section 19 of the Prevention of Money Laundering Act (PMLA), 2002, in connection with the money laundering investigation being conducted against Ozone Urbana Infra Developers Pvt Ltd and Others.

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NCLT admits insolvency plea by Kotak Mahindra Bank against Unity Realty

Kotak Mahindra Bank's insolvency petition against Unity Realty and Developers has been admitted by the NCLT. The petition was filed due to a claimed default of ₹68.49 crore, which dates back to September 2023. Unity Realty is a corporate guarantor for financial facilities availed by Unity Infraprojects, which faced financial difficulties leading to the current situation.

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Infrastructure must precede real estate development in Indian cities: CREDAI

CREDAI has called for an infrastructure-first approach to urban development, arguing that roads, drainage, transport and civic services should be planned ahead of large-scale real estate expansion. Industry leaders at NATCON 2026 also highlighted the need for redevelopment frameworks as Indian cities absorb a larger urban population.

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RBI imposes ₹4.8 crore fine on BPTP over FDI diversion

The Reserve Bank of India has announced a hefty fine of ₹4.8 crore against BPTP Ltd due to breaches of FEMA regulations concerning foreign direct investment from the years 2007 and 2008. The company will pay ₹4 crore, and its two directors will each incur a penalty of ₹40.36 lakh.

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Enforcement directorate search at TDI’s Mohali office ends after 53 hours

Following a thorough 53-hour operation, the Enforcement Directorate has concluded its search at TDI House concerning land acquisition irregularities. During this time, officials examined numerous land documents, records, and digital files while questioning on-site staff. The investigation targets two key areas: excessive compensation and a fraudulent government fund scheme. As of now, the ED has yet to release any official updates on the findings of this significant search.

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