Punjab & Haryana HC chief justice recuses from hearing M3M's plea

Chief Justice Sheel Nagu of the Punjab and Haryana High Court has recused himself from hearing a plea by M3M's Roop Bansal to quash a corruption case. This follows the withdrawal of the case from a single judge after complaints, despite the judge having reserved judgment.

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JSW Group secures ₹9,300-crore financing for Akzo Nobel acquisition

JSW Group has secured ₹9,300 crore to acquire Akzo Nobel India. The funding includes debt and convertibles. Foreign lenders and domestic mutual funds are participating. JSW Paints will raise operating company debt. Convertibles are at the JSW Group level. Sajjan Jindal Family Trust sold a stake in JSW Infrastructure. The deal aims to make JSW Paints India's fourth-largest paint company.

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Uttar Pradesh cabinet to notify revised building bylaws easing vertical development

The new rules and guidelines would give property owners the opportunity to create more usable space on a piece of land. Officials said more than 1,000 objections and suggestions were disposed of, and some were considered before preparing the final draft.

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SC allows M3M Group's plea for substitution of provisionally attached property

A bench of Justices P S Narasimha and R Mahadevan, however, said the substitution of the property would be subject to nine conditions as suggested by ED.

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IL&FS seeks to disqualify Brookfield Co from buying its finance centre

IL&FS has filed a plea seeking to reverse the sale of its iconic BKC building to Brookfield, alleging non-compliance with bid conditions. The insolvent financier claims Brookfield's unit, Chronos, failed to renew a ₹108-crore performance guarantee, rendering the letter of intent invalid. This move comes as commercial property values in BKC have risen, potentially making Brookfield's initial offer less appealing.

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Adani Properties gets NCLT nod to acquire HDIL's two assets

The assets include a commercial property known as 'Inspire BKC' in Mumbai's business district Bandra-Kurla Complex and a land parcel in Kalyan Shahad on the outskirts of Mumbai. Adani Properties was found to be the only bidder to make Insolvency and Bankruptcy Code (IBC)-compliant proposal for both the properties.

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ED raids Raheja Developers in case related to 'fraud' with homebuyers

The money laundering case of the Enforcement Directorate (ED) stems from multiple FIRs registered by the Economic Offences Wing (EOW) of the Delhi Police against Raheja Developers Ltd, its Managing Director Naveen Raheja and others, the federal agency said in a statement.

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