Real Estate Crisis
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Student Awarded Rs 5 Crore After Landlord Empties Apartment Despite Rent Being Paid
Under South Carolina law, the real estate firm is required to pay two years' interest at 8% on the awarded amount.
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China's Evergrande Faces Over 1,300 Lawsuits Totalling $45 Billion: Report
Evergrande began to falter after China began cracking down on the property sector in 2020.
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Asia's Richest Woman Loses More Than $12 Billion In China Property Crisis
Asia's wealthiest woman lost more than half her fortune over the past year as China's real estate sector was rocked by a cash crunch, a billionaire index showed Thursday.
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Ukraine Crisis: Russians Liquidating Crypto in the UAE as They Seek Safe Havens
Crypto firms in the UAE are being deluged with requests to liquidate billions of dollars of virtual currency as Russians seek a safe haven for their fortunes, company executives and financial sources said.
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Evergrande Crisis Like China's Lehman Moment, Reminds Us Of IL&FS: Uday Kotak
Global markets have turned shaky ever since China's Evergrande Group crisis triggered. The real estate group is one of China's biggest developers and has total liabilities or debt of more than $300 billion.
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India Enters Recession With Back-To-Back GDP Contraction Amid Covid Crisis
Financial and real estate services -- among the biggest component of India's dominant services sector -- shrank 8.1 per cent last quarter from a year ago
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Centre's Interest Waiver Plan Fails To Deal With "Many Issues": Top Court
The Supreme Court today said the centre's affidavit on waiving "interest on interest" on loans up to Rs 2 crore, frozen during a six-month moratorium granted because of the coronavirus crisis, was not satisfactory and asked for a do-over in a week. The affidavit "fails to deal with several issues raised by petitioners", the court said. The central ...
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Coronavirus Crisis: India's Realty Sector To Take Rs 1 Lakh Crore Hit In 2020-21, Says KPMG
Sale in the residential sector will come down from 4 lakh units in 2019-20 to 2.8 lakh-3 lakh units in 2020-21 across top 7 cities, according to the KPMG report.
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Opinion: PM Modi's Budget Won't Solve India's Economic Crisis
Virtually every industry, from banking and auto to real estate, power and telecom is in disarray. The fiscal space available to fight the slowdown is limited.
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Mumbai Trump Tower Builder Downgraded By Moody's Amid Real Estate Crisis
Property companies, which have been increasingly relying on shadow banks for borrowing, are struggling to roll over debt as the lenders themselves are facing a cash squeeze, raising prospects of a wave of defaults.
-
Sell Our Assets To Pay Off PMC Bank's Dues, Wadhawans To RBI, Agencies
Promoters of real estate group HDIL, Rakesh and Sarang Wadhawan, who are the prime accused in the PMC Bank scam, have requested the RBI and investigation agencies to sell off their assets, including a yacht, a Rolls Royce and an aircraft, to pay off the bank's dues.
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In PMC Bank Crisis, Directors Of Firm Accused Of Loan Default Arrested
Two directors of the real estate firm HDIL that set off the massive crisis at the Punjab Maharashtra Co-operative (PMC) Bank by defaulting on loans worth nearly Rs 6,500 crore have been arrested. Rakesh Wadhawan and Sarang Wadhawan, senior executives at Housing Development and Infrastructure Ltd (HDIL), were arrested by the Economic Offences Wing o...
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Opinion: How Government Should Tackle Shadow Banking Crisis
A year after the collapse of IL&FS Group, a specialist infrastructure financier, the crisis of confidence is getting worse.
-
Suspended PMC Bank Chief Hid Info From RBI Fearing "Reputational Loss"
Former Punjab Maharashtra Co-operative Bank Managing Director Joy Thomas has admitted to misleading the RBI for six to seven years by concealing and misreporting defaulted loans worth Rs 6,500 crore taken by crisis-hit real estate firm HDIL
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PMC Bank Lost Rs 4,300 Crore, Case Against Promoters Of Defaulting Firm
A police case has been filed against Sarang Wadhawan and Rakesh Kumar Wadhawan, promoters of the crisis-hit real estate firm Housing Development and Infrastructure Ltd (HDIL), for loan default reported to be worth up to Rs 4,300 crore, sources said.
-
Student Awarded Rs 5 Crore After Landlord Empties Apartment Despite Rent Being Paid
Under South Carolina law, the real estate firm is required to pay two years' interest at 8% on the awarded amount.
-
China's Evergrande Faces Over 1,300 Lawsuits Totalling $45 Billion: Report
Evergrande began to falter after China began cracking down on the property sector in 2020.
-
Asia's Richest Woman Loses More Than $12 Billion In China Property Crisis
Asia's wealthiest woman lost more than half her fortune over the past year as China's real estate sector was rocked by a cash crunch, a billionaire index showed Thursday.
-
Ukraine Crisis: Russians Liquidating Crypto in the UAE as They Seek Safe Havens
Crypto firms in the UAE are being deluged with requests to liquidate billions of dollars of virtual currency as Russians seek a safe haven for their fortunes, company executives and financial sources said.
-
Evergrande Crisis Like China's Lehman Moment, Reminds Us Of IL&FS: Uday Kotak
Global markets have turned shaky ever since China's Evergrande Group crisis triggered. The real estate group is one of China's biggest developers and has total liabilities or debt of more than $300 billion.
-
India Enters Recession With Back-To-Back GDP Contraction Amid Covid Crisis
Financial and real estate services -- among the biggest component of India's dominant services sector -- shrank 8.1 per cent last quarter from a year ago
-
Centre's Interest Waiver Plan Fails To Deal With "Many Issues": Top Court
The Supreme Court today said the centre's affidavit on waiving "interest on interest" on loans up to Rs 2 crore, frozen during a six-month moratorium granted because of the coronavirus crisis, was not satisfactory and asked for a do-over in a week. The affidavit "fails to deal with several issues raised by petitioners", the court said. The central ...
-
Coronavirus Crisis: India's Realty Sector To Take Rs 1 Lakh Crore Hit In 2020-21, Says KPMG
Sale in the residential sector will come down from 4 lakh units in 2019-20 to 2.8 lakh-3 lakh units in 2020-21 across top 7 cities, according to the KPMG report.
-
Opinion: PM Modi's Budget Won't Solve India's Economic Crisis
Virtually every industry, from banking and auto to real estate, power and telecom is in disarray. The fiscal space available to fight the slowdown is limited.
-
Mumbai Trump Tower Builder Downgraded By Moody's Amid Real Estate Crisis
Property companies, which have been increasingly relying on shadow banks for borrowing, are struggling to roll over debt as the lenders themselves are facing a cash squeeze, raising prospects of a wave of defaults.
-
Sell Our Assets To Pay Off PMC Bank's Dues, Wadhawans To RBI, Agencies
Promoters of real estate group HDIL, Rakesh and Sarang Wadhawan, who are the prime accused in the PMC Bank scam, have requested the RBI and investigation agencies to sell off their assets, including a yacht, a Rolls Royce and an aircraft, to pay off the bank's dues.
-
In PMC Bank Crisis, Directors Of Firm Accused Of Loan Default Arrested
Two directors of the real estate firm HDIL that set off the massive crisis at the Punjab Maharashtra Co-operative (PMC) Bank by defaulting on loans worth nearly Rs 6,500 crore have been arrested. Rakesh Wadhawan and Sarang Wadhawan, senior executives at Housing Development and Infrastructure Ltd (HDIL), were arrested by the Economic Offences Wing o...
-
Opinion: How Government Should Tackle Shadow Banking Crisis
A year after the collapse of IL&FS Group, a specialist infrastructure financier, the crisis of confidence is getting worse.
-
Suspended PMC Bank Chief Hid Info From RBI Fearing "Reputational Loss"
Former Punjab Maharashtra Co-operative Bank Managing Director Joy Thomas has admitted to misleading the RBI for six to seven years by concealing and misreporting defaulted loans worth Rs 6,500 crore taken by crisis-hit real estate firm HDIL
-
PMC Bank Lost Rs 4,300 Crore, Case Against Promoters Of Defaulting Firm
A police case has been filed against Sarang Wadhawan and Rakesh Kumar Wadhawan, promoters of the crisis-hit real estate firm Housing Development and Infrastructure Ltd (HDIL), for loan default reported to be worth up to Rs 4,300 crore, sources said.
