Today, On 6th January, The Supreme Court rejected Advocate Gautam Khaitan’s plea challenging the ED’s property attachment in the AgustaWestland case, stating “This practice has to stop” as it criticised attempts by wealthy accused persons to bypass the normal trial process.
The Supreme Court of India intervened to aid homebuyers affected by Unitech Ltd.’s financial troubles and project delays. The court granted an exemption from RERA registration for Unitech’s housing projects, facilitating stalled loan disbursements and appointing government oversight to address ongoing issues, ensuring faster project completion and accountability for past mismanagement.
The Supreme Court criticized the Real Estate Regulatory Authority (RERA) for failing to meet its objectives, stating it has become a refuge for retired bureaucrats who undermine the Act’s intentions. Established in 2016 to ensure real estate transparency and protect homebuyers, RERA’s effectiveness is now in question amid ongoing legal challenges.
The Bombay High Court’s recent ruling sets strict guidelines for banks labeling borrowers as wilful defaulters under RBI’s directives. The judgment emphasizes transparency and fair process, following the IL&FS Financial Services Ltd case. It mandates banks to provide all necessary documents to accused parties, ensuring principles of natural justice. This landmark decision highlights the importance of fairness and transparency in the banking sector.
