Top court issues 12 directions to protect genuine buyers, strengthen tribunals, restore credibility in real estate market. Directions as court hears case of abuse of Insolvency & Bankruptcy Code.
Review has been planned amid growing calls for amendment of law governing RERA by current, old members to assure more powers for the body & to address homebuyers’ concerns, it is learnt.
Of 32 states & UTs with Real Estate Regulatory Authorities, at least 25 are headed by retd civil servants. SC remarked last month that RERAs are 'rehabilitation centre' for ex-officers.
From coastal Andhra Pradesh to Jallianwala Bagh in Punjab, from bonfires in UP to midnight pledges in Chennai and Lahore, Vande Mataram was a war cry to galvanise people toward azaadi.
With the US-India trade deal yet to get done, rupee depreciation may be helping to mitigate India’s loss of competitiveness. The other problem is extreme despondence among overseas equity investors.
Of the total package, $649 million will be utilised for additional hardware, software, and support services, and the remaining for Major Defence Equipment (MDE).
Don’t blame misfortune. This is colossal incompetence and insensitivity. So bad, heads would have rolled even in the old PSU-era Indian Airlines and Air India.
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