Sebi bans Bengaluru based company, 8 directors from market for 4 yrs

By Accommodation Times Bureau MUMBAI: Securities and Exchange Board of India (Sebi) has banned Siyaram Development and Construction (SDCL) and its 8 directors from the securities market for illegally raising funds for at least four years. The regulator during probe found that, during the financial year 2011 to 2012-2013, SDCL through Offer of

Homebuyers can now take control of delayed projects

By Accommodation Times Bureau MUMBAI: In a move to protect buyers and strengthen the law, Maharashtra Real Estate Regulatory Authority (Maha RERA) recently released the Standard Operating Procedure (SOP) that allows homebuyers to take control of delayed projects. According to the circular, the majority of allottees not less than 51 per cent including

PNB freezes bank account of fake Housing Societies in Vidya-Vihar West

By Rohit Sharma MUMBAI: Recently, Punjab National Bank (PNB) has blocked the bank account of Avanti CHS Ltd (proposed) and two other buildings in the residential complex, Neelkanth Kingdom located in Vidya-Vihar (West), for flouting KYC requirements and illegally opening the bank account, said the sources. On February 2019, PNB had sent a

IBBI, Sebi inks MoU for effective implementation of IBC

By Accommodation Times Bureau MUMBAI: The  Insolvency and Bankruptcy Board of India (IBBI) signed a Memorandum of Understanding (MoU) on Tuesday with the Securities and Exchange Board of India (SEBI) for effective implementation of IBC Code, 2016. The MoU was signed by Anand Baiwar, Executive Director, SEBI, and Ritesh Kavdia, Executive Director, IBBI,

Chapter XII: Property Transactions Through Attorney

By Advocate S. R. Agarwal Property transaction through Attorney is a widely prevalent practice these days because of the complexity of the life or unavoidable circumstances. Not only property transactions, other transactions such as operating bank accounts, demate accounts, investments in the bonds and securities etc., take place day in and day