Court allows NBCC to buy higher FAR from Noida & Gr Noida authorities to build the flats. Some of the money made from their sale will go towards settling bankrupt builder's lease dues.
Higher floor area ratio will allow National Buildings Construction Corporation to construct more flats in the five projects that have unused land and sell them to pay off Amrapali's pending dues.
CBI also booked the company's directors for misappropriating the loan amount given to them by the bank 'with an ulterior motive to embezzle the public money'.
Supreme Court has cancelled registration of Amrapali Group, directed NBCC to complete its projects & instructed ED to charge directors with money laundering & fraud.
In Episode 1544 of CutTheClutter, Editor-in-Chief Shekhar Gupta looks at some top economists pointing to the pitfalls of ‘currency nationalism’ with data from 1991 to 2004.
Among 19 Indian firms sanctioned by US Treasury Dept was Lokesh Machines Ltd accused of coordinating with 'Russian defence procurement agent to import Italy-origin CNC machines'.
While we talk much about our military, we don’t put our national wallet where our mouth is. Nobody is saying we should double our defence spending, but current declining trend must be reversed.
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