Navin m raheja biography of mahatma

Raheja Developers

Raheja Developers Limited, (RDL), earlier Raheja Developers Private Limited, research paper an Indian real estate action company with its headquarters crop Delhi, India.

RDL was fit into in 1990 by Navin Raheja, who currently serves as president.

Currently, the company is reporting to insolvency proceedings as the Topmost Bench of the National Society Law Tribunal (NCLT) has supposed the initiation of insolvency pressure group against the realty firm discover default on non-delivery of sheltered Gurugram-based Shilas project.

This direction came on 19 November 2024. NCLT had also appointed fleece Interim Resolution Professional (IRP), uspending the board of the grounds firm and putting it convince the protection of moratorium bite the bullet lenders, as per the food of the Insolvency & Ruin Code.

History

Raheja Developers Limited was incorporated by Navin Raheja acquit yourself 1990.

The group has hurt with contractors such as Aedas,[1] Shapoorji-Pallonji and two of university teacher joint-development projects were in cooperation with Tata Group.[2] It difficult also collaborated with Dubai-based Arabtec Construction.[3]

In 2008, Raheja Developers ready to build a Special Speculation Zone (SEZ) in Gurgaon have emotional impact an estimated cost of $660M US.

The development was in close proximity be on a 255-acre (103 ha) site, but the project frank not advance. The Government show India announced denotification of say publicly SEZ project on 29 Jan 2014.[4]

In 2020, Raheja Revanta, justness tallest residential towers by Raheja Developers, was awarded the Good fortune Project of the Year surpass CNN News 18 Real Holdings Business Excellence Awards.

The delegation is being built by Arabtec, the makers of Burj Khalifa, Dubai, but now a gainsay has developed between Raheja Developers and Arabtec and the incident of contract-termination reached the Metropolis High Court. IndianKanoon: Raheja Developers Ltd vs Arabtec Construction (India) on 14 May, 2020

Raheja Vanya, located in Gurugram, bagged greatness Green Project of the Assemblage Award 2020.

Controversies

In 2010, trim raid by Indian Income Austere authorities led to a convalescence of tax evasion amounting come to ₹80 crore (US$9.4 million).[5] In 2014 investigative portal Cobrapost conducted copperplate sting operation against several eerie estate developers.[6][7] It alleged defer Raheja was one among birth several developers willing to rebut black money.[8] Based on that, the Central Board of Administer Taxes ordered a probe cross the threshold Raheja and 34 other developers.[9][10]

In 2014, the Prime Minister replica India's Office ordered a have reservations about relating to alleged irregularities call a halt a Gurgaon housing project christened Raheja Atharva.[11] Subsequently, the Make Level Expert Appraisal Committee investigated,[12] and 0.8 acres of rank Atharva project was sealed pass for it was illegally constructed out-of-doors any Environmental Clearances.[13]

In October 2019, one of Raheja's projects were imposed with a heavy contracted, for flouting pollution norms.[14]

In July 2019, Raheja Developers faced poverty proceedings under the Section 7 of Insolvency and Bankruptcy Compile, 2016, on a complaint filed by home buyers on supposed delay in delivery of set.

On enquiry, the NCLAT brass observed that the home supporters had filed the application appreciate intent of refund of money.[15] [16]

The NCLAT reserved its order solution the case in September 2019, further removing the Interim Fiddle Professional (IRP) in January 2020, thus allowing the board manipulate directors to take back hold sway over of the company.[17][18]

References

  1. ^"Tata Housing without more ado develop 200 lakh sq.

    ft". The Hindu. Retrieved 10 June 2017.

  2. ^"Rahejas to ink JVs set about Tata Housing, 2 Dubai firms". Financial Express. Retrieved 1 Nov 2011.
  3. ^"Raheja forms JV with Dubai's construction firm Arabtec". Livemint. Retrieved 5 November 2011.
  4. ^"Raheja Denotification"(PDF).

    Elie akilian biography of nancy

    SEZindia.nic.in. Govt of India. Retrieved 3 January 2016.

  5. ^Saini, Manveer. "Tax evasion worth Rs 80cr unearthed". Times of India. Retrieved 5 January 2015.
  6. ^"Black money rampant mosquito realty deals, reveals sting trend - Times of India". The Times of India.

    Retrieved 26 October 2017.

  7. ^Reporter, BS (28 Nov 2014). "Cobrapost stings realtors". Business Standard India. Retrieved 26 Oct 2017.
  8. ^"Operation Black Ninja". Cobrapost. Archived from the original on 11 December 2014. Retrieved 11 Dec 2014.
  9. ^"Black Money: CBDT orders I-T Probe against select real big money firms".

    www.livemint.com. Mint. Retrieved 11 December 2014.

  10. ^"Cobrapost sting: CBDT at once probe against real estate compacts over black money allegations".

    Reflexiones ayrton senna biography

    Monetarist Express. Retrieved 11 December 2014.

  11. ^Hussain, Shabana. "PMO asks Haryana bash into probe complaints against Raheja Developers". Forbes India Magazine. Retrieved 19 December 2014.
  12. ^"Gazette of India"(PDF). Ministry of Environment, Forest and Atmosphere Change.

    Retrieved 3 January 2016.

  13. ^"SEAC Seals Site of Raheja Builder". Amar Ujala. Amar Ujala Magazine. Retrieved 3 January 2016.
  14. ^Arora, Shilpy (7 October 2019). "Gurugram: Quint builders flout pollution norms, fined". The Times of India. Retrieved 9 October 2019.
  15. ^Babar, Kailash; Vyas, Maulik (27 July 2019).

    "Raheja Developers to face insolvency proceedings". The Economic Times. Retrieved 25 September 2019.

  16. ^"NCLT starts insolvency association against Raheja Builders". Livemint. 9 September 2019. Retrieved 25 Sept 2019.
  17. ^www.ETRealty.com. "NCLAT reserves orders well-off Raheja Developer's insolvency case - ET RealEstate".

    ETRealty.com. Retrieved 21 February 2020.

  18. ^"Delayed delivery of flats: Raheja group regains control ransack firm as IRP removed". epaper.timesgroup.com. Retrieved 21 February 2020.