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EXCLUSIVE


SAT SETS ASIDE SEBI ORDER TO IMPOSE RS 7 LAKH FINE: JAYPEE INFRATECH

In a regulatory filing, Jaypee Infratech said the Securities and Exchange Board
of India (SEBI) had passed an adjudication order on March 14, 2022 regarding
disclosures required to be made to the stock exchanges.

 * PTI
 * July 13, 2022, 08:47 IST

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NEW DELHI: Jaypee Infratech on Tuesday said the Securities Appellate Tribunal
(SAT) has set aside a SEBI order which imposed a penalty of Rs 7 lakh on the
company for disclosure lapses.

In a regulatory filing, Jaypee Infratech said the Securities and Exchange Board
of India (SEBI) had passed an adjudication order on March 14, 2022 regarding
disclosures required to be made to the stock exchanges.

The company had filed an appeal against the SEBI order with SAT.


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"The matter was listed today i.e. July 12 and the SAT has allowed the appeal
filed by the company and have set aside the order of SEBI imposing the penalty,"
Jaypee Infratech said.

"The above is based on the proceedings as transpired virtually and we shall
upload the Order once the same is made available," it added.

As per the SEBI order in March, Jaypee Infratech Ltd did not make disclosures
with regard to series of non-convertible debenture (NCD) securities issued and
listed by it, as required under market norms.

The company also failed to inform BSE of the default in payment of
interest/principal in respect of various series of NCDs, apart from other
disclosure lapses.

Jaypee Infratech went into insolvency process in August 2017 after the NCLT
admitted an application by an IDBI Bank-led consortium

In June last year, Suraksha group received the approval of financial creditors
and homebuyers to take over Jaypee Infratech, raising buyers' hopes of getting
possession of their flats.

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   DLF

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EXCLUSIVE


AFTER BRIBE PLAINTS, GHAZIABAD DEVELOPMENT BODY SAYS JUNIOR ENGINEERS CAN'T SEAL
PROPERTIES

The order, issued by GDA vice-chairperson and district magistrate RK Singh, said
junior engineers and supervisors cannot seal or de-seal a property without
taking permission from the officer on special duty (OSD-enforcement) Sushil
Kumar Choubey or the vice-chairperson’s office.

 * Abhijay Jha
 * TNN

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GHAZIABAD: The GDA on Tuesday issued orders to limit the powers of junior
engineers and supervisors to seal and de-seal properties in the city in a
decision made after complaints of corruption among the officials.

The order, issued by Ghaziabad Development Authority vice-chairperson and
district magistrate RK Singh, said junior engineers and supervisors cannot seal
or de-seal a property without taking permission from the officer on special duty
(OSD-enforcement) Sushil Kumar Choubey or the vice-chairperson’s office.

“The GDA vice-chairperson and DM came across a complaint in which it was alleged
that junior engineers and supervisors go about sealing illegally constructed
properties, and after some time, they de-seal it in lieu of money,” a GDA
official said on Tuesday.



“When the VC enquired, he was told by the enforcement department that the power
to seal or de-seal a building lies with the office of vice-chairperson, but over
many years, his predecessors had divested the power on to junior officials
because of workload,” the official added.

Singh then investigated complaints made on the GDA’s official website.

“After taking into account the allegations and subsequent investigation, the V-C
ordered that from now on junior engineers and supervisors will not have the
right to act on their own when it comes to sealing and de-sealing of properties.
They will have to seek written permission from V-C’s office or the OSD’s office
before going ahead with any action,” the official said.

Residents said the GDA’s decision would help reduce opportunities for
corruption.

“There are many such instances where construction started for a building, which
was sealed by the GDA, but after some time, it was allowed to go on again. Now,
with these new restrictions, hopefully this rampant corruption will come to an
end,” said Sanjay Mishra, a resident of Kavi Nagar.



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EXCLUSIVE


GOVERNMENT DEPARTMENTS OWE OVER RS 16 CRORE IN PROPERTY TAX TO DEHRADUN CIVIC
BODY

According to sources at the DMC, various departments and institutions in
Dehradun are yet to pay their housing tax. Officials said that the defaulters
owe more than Rs 16 crore in taxes.

 * Tanmayee Tyagi
 * TNN

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DEHRADUN: Even as the Dehradun Municipal Corporation (DMC) is making efforts to
avoid any evasion of property tax in its jurisdiction, a latest estimate has
revealed that government departments owe more than Rs 16 crore in taxes to the
civic body.

According to sources at the DMC, various departments and institutions in
Dehradun are yet to pay their housing tax. Officials said that the defaulters
owe more than Rs 16 crore in taxes. They added that some departments have not
paid property tax since 2016 even after being sent notices regarding the
payment.

"We will now start sending reminder notices to the government bodies. The notice
will include the break-up of all the due tax amount. The interest will keep
accumulating till they clear the dues," said Dharmesh Panuily, tax
superintendent, DMC.



Among the major defaulters are -- public works department and Survey of India
(Rs 3.5 crore each), Forest Research Institute (Rs 2 crore), Dehradun police
department (Rs 1.8 crore), SIDCUL and Doon Hospital (Rs 1.3 crore each) along
with others like Vidhan Sabha Bhawan, Transit Hostel, and others.

A senior official in the district administration said that each department
handles taxation individually. Meanwhile, officials of the DMC said that if all
government bodies pay their house tax on time, the corporation will be able to
collect five times the revenue and use the funds for development projects.


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EXCLUSIVE


LUCKNOW: PAY HEAVY FINE FOR WRONG INFO IN PROPERTY TAX SELF-ASSESSMENT

The decision was taken after discussing the modalities of the software. The
trial of the software began at LMC office on Tuesday. It will be launched soon.

 * TNN

Click Here to Read This Story
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LUCKNOW: Filling wrong details in the online self-assessment property tax
software of Lucknow Municipal Corporation (LMC) will attract penalty of four
times the difference between actual tax and the amount paid.

The decision was taken after discussing the modalities of the software. The
trial of the software began at LMC office on Tuesday. It will be launched soon.

The software will offer citizens the opportunity to calculate and pay house and
commercial tax online that is currently paid manually. People will have to fill
a self-assessment form which will be scrutinised by the taxation officer of the
area.



“The new software will provide self-assessment of property tax but to ensure
that wrong details are not given by people, penalty has been determined. Those
filling wrong details will have to pay four times the difference between actual
tax and the amount generated by filling wrong information,” chief taxation
officer Ashok Singh said.

Officials said under the new system, applicants would have to fill a form on LMC
website and give personal details and property particulars like area, position
and papers. Tax will be calculated in a transparent manner on the basis of the
details.

“The system will be user-friendly and will reduce chances of human intervention.
To make sure that there is no glitch in operation, trials will be extensive,”
said municipal commissioner Indrajit Singh.



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EXCLUSIVE


SC SETS ASIDE NCDRC ORDER DIRECTING ALLOTTEE TO PAY MAINTENANCE CHARGES TO DLF

A bench of Justices Dinesh Maheshwari and Aniruddha Bose said the entity
(Condominium Association) to whom such charge is due has not raised any claim.

 * PTI

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NEW DELHI: The Supreme Court has set aside an order of the National Consumer
Disputes Redressal Commission directing an allottee to pay maintenance charges
to DLF Home Developers Limited for the flat of which he is yet to get
possession.

A bench of Justices Dinesh Maheshwari and Aniruddha Bose said the entity
(Condominium Association) to whom such charge is due has not raised any claim.

"We, accordingly, hold the finding of the National Commission as also the State
Commission that the allottee would be required to pay maintenance charges as
erroneous and that part of the findings of the two Commissions are set aside.



"The entity to whom such charge is due has not raised any claim. In such
circumstances, direction to the allottee to pay maintenance charges was not
warranted as the entity entitled to receive such charges is not a party to these
proceedings," the bench said.

The top court said such directions assume the character of declaration of
liability or obligation of the allottee in absence of the admitted claimant, who
had not brought any action or staked their claim in any other manner through
these proceedings.

The apex court, however, sustained the order of the National Commission and the
State Commission that a fresh offer of possession ought to be issued by the real
estate company.

"We extend the time for issuing such an offer of possession by a period of eight
weeks from this date. Execution of Deed shall be effected within the aforesaid
period.

"We modify the direction of the National Commission relating to the payment of
delayed compensation and while restoring the directions of the State Commission,
we direct that delayed compensation be paid at the rate of Rs.10 per square feet
per month for the entire period from March 2011 till the date on which the fresh
offer of possession is issued.



"The delayed possession compensation shall be paid to the allottee after
adjusting the delayed compensation already paid. The early payment rebate of
Rs.95,136/- shall also be adjusted, as has been directed by the National
Commission. The said sum was mentioned in the statement of account dated June
10, 2013," the bench said.

It retained the order as to costs to be paid to the allottee quantified by the
National Commission as Rs.50,000.

The apex court was hearing a plea filed by journalist Utpal Trehan on the issue
of the quantum of compensation that he would be entitled to receive because of
the delay in delivery of possession of a flat as also his obligation to pay
maintenance charges.

The specific disputes giving rise to these appeals related to an Apartment
Buyers' Agreement, executed on December 3, 2008, between Trehan and DLF Home
Developers Limited for the purchase of a flat, within a complex named New Town
Heights in Sector-91, Gurugram.

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EXCLUSIVE


IRREGULARITIES IN ALLOTMENT OF AMRITSAR PLOTS: PUNJAB VIGILANCE BUREAU

A press release issued by the bureau said during the probe, evidence was found
of alleged connivance of officers and employees of AIT in the allotment of
commercial and residential plots.

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AMRITSAR: The Punjab vigilance bureau on Monday claimed to have found a number
of irregularities in the allotment of tenders for development works in Amritsar
and in the allotment of Verka milk booths in the city, during the tenure of
Dinesh Bassi as the chairman of Amritsar Improvement Trust (AIT).

Last Wednesday, Bassi was arrested by the bureau on for alleged fraud in the
allotment of a plot in Ranjit Avenue.

A press release issued by the bureau said during the probe, evidence was found
of alleged connivance of officers and employees of AIT in the allotment of
commercial and residential plots. It said it also found missing files of various
plots from the trust office.



Bassi, who is in police remand for four days, was produced in an Amritsar court
on Monday, which extended his remand by two days.

A bureau official said,“Bassi had issued tenders for development works worth Rs
300-400 crore during his tenure.” tnn



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EXCLUSIVE


ABIL GROUP CHAIRMAN TO NOW STAY IN ED CUSTODY TILL JULY 21

The ED produced Bhosale in court and informed that since he is an influential
person, he may hamper the ongoing investigation if released from custody.

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MUMBAI: The court on Monday extended Pune businessman Avinash Bhosale’s judical
custody till July 21, after the Enforcement Directorate (ED) alleged he wasn’t
cooperating in the probe.

The ED produced Bhosale in court and informed that since he is an influential
person, he may hamper the ongoing investigation if released from custody.

The ED informed the court that “many facts pertaining to diversion of huge part
of the funds to the accused person and to his entities are yet to be
traced/ascertained. He has not provided satisfactory answers regarding receipt
of huge amounts of funds to the tune of Rs 431 crore from Radius Group Entities.
He has also not provided satisfactory answers regarding receipt funds of Rs 66.5
crore from DHFL. He has not yet provided the required information regarding the
laundering of proceeds of crime.”



Earlier, the CBI had arrested Bhosale in a cheating case and he was in judicial
custody. Later, the ED took his custody from the CBI last month and arrested him
in the money laundering case.


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EXCLUSIVE


SIT TO PROBE 'CHEATING' BY VADODARA-BASED BUILDER

Cops swung into action after city police commissioner Shamsher Singh formed a
special investigation team (SIT) to probe the accusations against Patel.

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VADODARA: Builder Apurva Patel, who is accused of duping dozens of citizens, has
been booked in two more cases by the Manjalpur police. Cops swung into action
after city police commissioner Shamsher Singh formed a special investigation
team (SIT) to probe the accusations against Patel.

Senior police officials said that Patel has committed fraud worth crores and
hence, the five-member SIT including the crime branch will focus on digging out
offences committed by him. The police said that Patel had floated two separate
residential schemes over the last few years.

He accepted deposits from the buyers but didn’t give them possession of the
flats. The accused kept giving different reasons for the delay following which
the victims got suspicious. When Patel recently launched another residential
scheme in Manjalpur, the victims gathered there and started demanding their
money back.



The CID crime is already investigating the allegations and had given Patel three
days of time to appear for questioning.

But when he failed to turn up, cops visited his home and office but found him
missing along with his wife. The victims claimed that they had paid deposits in
2019 but the accused didn’t even start construction in some of the schemes.


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EXCLUSIVE


NEW DELHI MUNICIPAL COUNCIL GIVES TILL AUGUST 18 TO RESIDENTS TO VERIFY TAX
OUTGO

"The assessment list for the year 2022-23 is prepared on the basis of the tax
returns filed by the owner, occupier and the lessee in the previous year
(2021-22)," an official said.

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NEW DELHI: New Delhi Municipal Council has finalised a property-wise assessment
list of all land and buildings in its areas and invited residents to verify the
details after visiting the property tax office at Palika Kendra and submit their
objections, if any, before August 8.

“It is an annual exercise carried out in accordance with Section 70 of the NDMC
Act. The assessment list for the year 2022-23 is prepared on the basis of the
tax returns filed by the owner, occupier and the lessee in the previous year
(2021-22).

Before filing the property tax for this year, people can go through the
assessment of their properties made by us and raise objections, if any, with
proof. The owners can also check the details on the NDMC website,” an official
said.


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EXCLUSIVE


FIX PUBLIC NOTICES ON VASAI-VIRAR BUILDINGS FACING DEMOLITION ORDERS: BOMBAY HC
TO VVMC

However, it sought demolition statistics for 2 years after petitioners' advocate
Ajay Jaiswal said VVMC is not following a 2018 government resolution that
directed planning authorities/corporations to file caveats before a civil court
after passing demolition orders so that they will be heard.

 * Rosy Sequeira
 * TNN

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MUMBAI: Bombay high court has directed the Vasai Virar Municipal Corporation
(VVMC) to put up permanent notice boards on structures facing demolition orders
to caution the public about it.

“Let the notice boards alerting the public at large be fixed within a period of
four weeks from today,” said Justices Anil Menon and Makarand Karnik in the July
4 order. The direction was passed while disposing of three PIL to demolish
illegal structures. VVMC was formed in 2011. It told HC there are 9000 illegal
structures. The petitioners said there are 12000 such structures.

On June 7 a bench led by the chief justice said concerns in this PIL are covered
by directions given in a February 26 judgment, in a suo motu PIL, where
guidelines are issued to civic authorities and State to take action against
illegal, unauthorised and ruinous structures.



However, it sought demolition statistics for 2 years after petitioners' advocate
Ajay Jaiswal said VVMC is not following a 2018 government resolution that
directed planning authorities/corporations to file caveats before a civil court
after passing demolition orders so that they will be heard.

VMMC’s reply said it issued 633 demolition notices, lodged 279 caveats and in 45
suits there is stay on demolition. Due to Covid-19 pandemic there were restraint
orders passed by HC and hence demolition was restricted. Since HC has vacated
these interim restraint orders, VVMC has initiated action for demolition of all
unauthorised structures.

On July 4 Jaiswal said despite orders there are several illegal structures yet
to be demolished and schools are run from them. He said parents admitting their
children to these schools have no way of ascertaining that the school building
is illegal and facing a demolition order.

VVMC’s advocate Swati Sagvekar said details of unauthorised structures are put
up on the website. But the judges questioned how it would be possible for
parents to check VVMC's website to know whether school buildings are illegal.
Jaiswal urged that there has to be permanent notice boards visible to the
public.



The judges recorded Sagvekar’s statement “that the Corporation shall ensure that
all those structures facing demolition orders are “listed, verified and suitable
cautionary boards of a permanent nature’’ and put up. It shall be affixed on the
outer wall of the schools alerting the public that “the structures are not legal
and that there are orders for their demolition and hence members of the public
shall take notice of the same.”


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