Over ₹960 crore scam? 127 plots sold, then mortgaged to scam-hit bank in Bengaluru

Fresh allegations of fraud have emerged related to Sri Guru Raghavendra Sahakara Bank Niyamitha involving mortgaged properties. Properties with ongoing financial disputes had previously been sold to unsuspecting buyers, exposing a troubling issue. The bank lacks accurate data on these properties, complicating efforts to determine ownership and value. An association representing affected homeowners has urged the bank to halt any further actions against their interests.

from Top Real Estate News | Latest Realty & Real Estate Industry Information and Updates: ET Realty : ETRealty.com https://ift.tt/fQZBcap
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NCLT voids ₹525-crore guarantee, Mumbai land transfer in JLS Realty dispute

The National Company Law Tribunal declared the transactions of JLS Realty Pvt Ltd invalid, impacting its redevelopment land. It determined that the transfer to Spenta Suncity offered no real commercial advantage for JLS Realty. Additionally, the tribunal invalidated unlawful director appointments and share transfers lacking proper documentation. The ruling mandates the restoration of the company’s assets and rightful shareholding structures.

from Top Real Estate News | Latest Realty & Real Estate Industry Information and Updates: ET Realty : ETRealty.com https://ift.tt/WYTHzjM
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