Kotak Mahindra Bank: RLLR: 0.75 | From: 8.7% - To: 10.5%
Union Bank of India: RLLR: 0.5 | From: 8.5% - To: 10%
Bank of Baroda: RLLR: 0.5 | From: 9.25% - To: 11%
HDFC Bank: RLLR: 0.75 | From: 8.5% - To: 8.8%

Law & Policy

Bombay HC issues notices over RMC plant in SGNP eco-sensitive zone in Thane

The Bombay High Court has issued notices to the Maharashtra Pollution Control Board (MPCB), Mumbai Metropolitan Region Development Authority (MMRDA), and Thane Municipal Corporation (TMC) following a public interest litigation (PIL) filed by Thane residents. The PIL challenges the construction of a ready-mix cement (RMC) plant located within the eco-sensitive zone (ESZ) of Sanjay Gandhi National Park (SGNP). The petitioners argue that the plant could cause significant air and noise pollution, negatively impacting both local residents and wildlife. The authorities have been asked to file their responses within three weeks, with a further hearing scheduled for mid-January.Read more

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Allahabad High Court orders probe into alleged fraud by housing society in Lucknow

The Lucknow Bench of the Allahabad High Court has directed the Uttar Pradesh Vigilance Establishment to investigate alleged large-scale fraud involving the Himalayan Cooperative Housing Society Limited and the Lucknow Development Authority (LDA). The society is accused of illegally acquiring land exceeding the 12.5-acre limit and distributing plots after fraudulently claiming compensation, allegedly with the collusion of LDA staff. Justice Rajiv Singh ordered the vigilance department to submit a report by mid-January and take necessary action against those involved. This directive underscores the need for accountability, transparency, and stricter oversight in urban land transactions to prevent systemic lapses and fraudulent practices.Read more

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Bengaluru: BBMP to demolish 29 illegal buildings in South Bengaluru for plan violations

The Bruhat Bengaluru Mahanagara Palike (BBMP) has ordered the demolition of 29 buildings in the south zone, including areas like VV Puram, Vidya Peeta, and Hombegowda Nagar, citing gross deviations from approved construction plans. Violations include unauthorized floors and unapproved structures, breaching municipal regulations. This crackdown, directed by South Zone Commissioner Vinoth Priya R, is part of BBMP's broader efforts to tackle unregulated developments across the city. The initiative aims to enforce compliance, promote sustainable urban growth, and serve as a warning to developers and property owners flouting regulations, emphasizing adherence to legal construction norms.Read more

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Noida: Over 4,000 homebuyers in limbo as Uttar Pradesh Pollution Control Board halts 4 residential projects

The Uttar Pradesh Pollution Control Board (UPPCB) has halted construction on four Noida residential projects-Ascon Pride Villa, Purushottam Estate, Dwarika City, and Sahara Enclave�due to missing environmental clearances, affecting over 4,000 homebuyers. Triggered by an NGT complaint, inspections revealed unauthorized construction across 18 villages in Noida and 55 in Greater Noida. Builders also lacked layout approvals, jeopardizing buyers' investments. The UPPCB has issued closure orders and plans further inspections, including checks for illegal borewells. The situation underscores the urgent need for stricter regulatory enforcement and sustainable development practices in rapidly urbanizing regions.Read more

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Hyderabad: GHMC launches portal to combat 250k illegal construction cases

Hyderabad's illegal construction crisis, with 250,000 writ petitions in five years, has prompted the Greater Hyderabad Municipal Corporation (GHMC) to introduce an online portal for tracking violations. This tool will enable citizens to report unauthorized structures and monitor actions from complaints to demolitions. Responding to Telangana High Court directives, GHMC plans stricter enforcement, including criminal charges and fines of up to 400% for violations. Collaboration with the Stamps and Registration Department will flag properties with 'unauthorized construction' on encumbrance certificates, deterring buyers. Public awareness campaigns and SOPs aim to reduce unauthorized expansions and safeguard Hyderabad's urban growth and infrastructure.Read more

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NFRA fines auditors, imposes five-year ban over DB Realty misconduct

The National Financial Reporting Authority (NFRA) has penalized two auditors, Chetan Desai and Rakesh Rathi of Haribhakti & Co LLP, for professional misconduct during the audit of DB Realty (now Valor Estate Ltd) for FY 2015-16. Desai was fined INR 5 lakh and banned for five years, while Rathi received a INR 3 lakh fine and a three-year ban. The NFRA uncovered lapses, including failure to scrutinize INR 3,894.43 crore in guarantees and inadequate review of loans worth INR 1,326.92 crore, mostly to related parties. This action underscores NFRA's commitment to enhancing accountability in financial reporting and upholding auditing standards in India.Read more

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Odisha government reinforces tribal land protection regulations in scheduled areas

The Odisha government has instructed Revenue Divisional Commissioners and District Collectors to ensure the protection of tribal land rights in scheduled areas. Citing the Odisha Scheduled Areas Transfer of Immovable Property (OSATIP) Regulation, 1956, the authorities were reminded of the prohibition on transferring tribal land to non-tribals. This follows criticism of the previous government's 2023 decision, which temporarily allowed such transfers. The directive emphasises prompt restoration of illegally occupied tribal land and mandates thorough field inspections by officials. However, delays in resolving cases under OSATIP remain a significant concern, with thousands of cases still pending.Read more

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Calcutta High Court upholds tenant compensation in Joka-BBD Bag metro land acquisition

The Calcutta High Court ruled that tenants of private land acquired for the Joka-BBD Bag Metro corridor are entitled to compensation, even if landowners have already been paid. Justice Aniruddha Roy emphasized tenants' rights under Section 9 of the 1978 Act, which includes "any person interested in the land." The ruling stemmed from a land acquisition dispute near the Nepalese Consulate in Kolkata. The court upheld the acquisition, citing the public importance of the metro project while ensuring "just and appropriate compensation" for tenants. This decision reinforces tenant rights and highlights the complexities of balancing public infrastructure needs with legal entitlements.Read more

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Telangana introduces Record of Rights bill to resolve Dharani portal issues

The Telangana government has introduced the Record of Rights (RoR) bill to address long-standing issues stemming from the Dharani portal, including appeals, land record corrections, and succession disputes. Key amendments to the Bhu Bharati Act empower revenue officers, simplify processes, and allow applicants to track their requests via mobile devices, enhancing transparency. Over 9.24 lakh pending applications are set to be resolved, including 18 lakh acres in Part B land, granting farmers access to Rythu Bandhu benefits. By addressing land disputes and enabling the registration of Sada Bainamas, Telangana aims to streamline land administration and improve property transaction accuracy statewide.Read more

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Gurugram: MCG imposes fine on builder for violating construction ban

The Municipal Corporation of Gurugram (MCG) enforcement team imposed a penalty of INR 500,000 on a builder for violating the construction ban under the Graded Response Action Plan (GRAP) Stage 4 in Sector 113. Despite the ongoing ban, construction continued at the site. The team halted work immediately and warned the project head to comply with the regulations. Additionally, a penalty of INR 5,000 was imposed on a motorcycle service center in Wazirabad for littering. Residents have expressed concerns that construction continues unchecked, contributing to worsening air pollution.Read more

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