Business
Real estate barons betrayed people’s trust, pulled down a growth sector

The Supertech Twin Towers in Noida that are supposed to be decimated next month is representative of the fall of the real estate czars in the recent past, especially in Delhi-NCR.
The real estate landscape in the region suffered multiple blows as leading names of the trade were mired in scandals in the recent past and some of them even landed in jail.
This is a story of how real estate barons have played with the system, betrayed people’s trust and created multiple crises.
Ashutosh Kashyap, Director, Advisory Services, Colliers India pre 2012, said the residential real estate dynamics of NCR were characterised by double-digit capital value appreciation coupled with robust absorption.
On one hand, prospective buyers were in a hurry to buy, apprehensive of price rise, while on the other hand, robust absorption motivated developers to go on a project launch spree.
In the absence of a proper regulatory regime (such as RERA, which came later), the financial ring-fencing of projects was not proper, which allowed developers to use booking money from one project to acquire more land, which was only based on the underlying premise that the robust absorption will sustain.
“The reason, most of these happened in Noida was because the city offered the option of staggered payment for allotted land. This allowed builders to accumulate and launch more projects in anticipation of robust demand. The residential real estate segment witnessed a prolonged muted period (till 2020-21), especially for the primary market. Most of the developers that built their pipelines on anticipated demand found it difficult to sustain this phase and what we see today is the result of the same,” Kashyap added.
A number of real estate czars have faced enforcement action and some even bankruptcy. This has in turn caused immense despair and hardship for home buyers stuck with incomplete projects having poured in their life savings.
Members of the Chandra family of the Unitech Group are in jail. The Supreme Court on Wednesday asked the Enforcement Directorate (ED) to propose steps to bring back homebuyers money amounting to Rs 5,000 crore diverted to tax havens, which was revealed in a forensic audit.
At the beginning of the hearing, Additional Solicitor General N. Venkataraman, representing the Centre-appointed board of the Unitech, submitted before a bench headed by Justice D.Y. Chandrachud that over a thousand crore is outside the country and some money should come back, which could be utilised for the purpose of construction, and the court should ask ED, what progress has been made so far.
In April last year, the ED attached movable and immovable properties worth over Rs 300 crore in 10 separate cases of money laundering.
The agency had said that Unitech Group had diverted proceeds of crime, which are over Rs 300 crore to Carnoustie Group and in turn, the entities of Carnoustie Group purchased several immovable properties from these funds.
In December 2019, the top court had directed the Centre to take over the management of Unitech by appointing independent directors after a forensic audit revealed that home buyers’ money worth over Rs 5,000 crore had been diverted to tax havens such as Cyprus. The diversion of money affected the completion of at least 74 projects and damaged the interests of nearly 12,000 homebuyers.
Also in jail is the Ambience Group owner Raj Singh Gehlot. An (ED) probe has revealed that the group has not made the obligatory contribution of Rs 462 crore for the construction of a Rs 1,272 crore luxury hotel project at Shahdara in the national capital, violating the loan conditions of a consortium of banks, led by the Jammu & Kashmir Bank.
Crime
CBI court sentences former Punjab cops in 2007 sex scandal

Chandigarh, April 7: A CBI court in Mohali on Monday sentenced Punjab’s former Senior Superintendent of Police Devinder Singh Garcha and former Superintendent of Police, Headquarters, Paramdip Singh Sandhu to five years of rigorous imprisonment each, in connection with the 2007 sex scandal in Moga.
Besides the imprisonment under the provisions of the Prevention of Corruption Act, the court imposed a fine of Rs 2 lakh each.
Garcha and Sandhu were arrested and charged with blackmailing influential persons to extort money.
Former Inspector Amarjit Singh was sentenced to six-and-a-half years of rigorous imprisonment and fined Rs 2.5 lakh, while former Sub-Inspector Raman Kumar was sentenced to eight years of rigorous imprisonment and fined Rs 3 lakh.
Both were found guilty of implicating prominent businessmen in a false gangrape case to extort money from them.
CBI Special Judge Rakesh Gupta pronounced the verdict after convicting Garcha, Sandhu, Raman Kumar, and Amarjit Singh under Sections 13(1) (D) and 13 (2) of the PC Act on March 29.
Besides corruption, Raman Kumar was also convicted of extortion, while Amarjit Singh was convicted of attempting extortion.
The CBI court acquitted Barjinder Singh, alias Makhan, the son of former Punjab minister Tota Singh, and Sukhraj Singh of all the charges.
The CBI took over the probe on the Punjab and Haryana High Court’s direction on December 11, 2007. A day later, the central probe agency registered a fresh FIR in the case.
The sex scandal involved high-profile politicians and senior police officials extorting rich people by trapping them in a flesh trade case.
As per the investigation, the accused public servants abused their positions and entered into a criminal conspiracy to obtain undue pecuniary gain by corrupt and illegal means.
According to the charge sheet, two women, including Manjit Kaur, in connivance with the police officers and Barjinder Singh, extorted money from influential people by threatening to frame them in sexual abuse cases if they refused to pay up.
National
J&K L-G gives assent to three bills passed by Assembly

Jammu, April 7: The Jammu and Kashmir Legislative Assembly was informed on Monday that Lt. Governor Manoj Sinha has given assent to three bills passed by the House earlier.
Manoj Kumar Pandit, secretary, Jammu and Kashmir Legislative Assembly, informed the House that three Bills passed by the Legislative Assembly were assented to by the Lt Governor on March 25.
The Secretary read out in the House: “Three Bills, passed by the Legislative Assembly, have been assented to by the Lieutenant Governor on the 25th of March, 2025. The Bills include The Jammu and Kashmir Goods and Services Tax (Amendment) Bill, 2025 (L.A. Bill No. 1 of 2025), The Jammu and Kashmir Appropriation Bill, 2025 (L.A. Bill No. 2 of 2025) and The Jammu and Kashmir Appropriation Bill, 2025 (L.A. Bill No. 3 of 2025).”
The House resumed question hour after ruckus marred the proceedings in the morning, forcing Speaker Abdul Rahim Rather to adjourn the House for 15 minutes.
National Conference MLAs Nazir Gurezi and Tanvir Sadiq demanded that the question hour be deferred to allow a discussion on the Waqf Amendment Act.
The demand was supported by Congress, PDP and some other members, while the BJP opposed the move.
The Speaker ruled that since the matter is sub judice, he cannot allow a debate on the subject.
Former Chief Minister and PDP Chief Mehbooba Mufti termed the rejection of the adjournment motion on the Waqf Amendment Act “profoundly disappointing” and accused the NC government of yielding to the BJP’s “anti-Muslim” agenda.
“It’s profoundly disappointing that the speaker J&K Assembly has rejected the motion on the Waqf Bill. Despite securing a strong mandate, the government appears to have completely yielded to the BJP’s anti-Muslim agenda, cynically attempting to appease both sides,” Mehbooba Mufti wrote in her post on X.
Senior religious and separatist leader Mirwaiz Umar Farooq also criticised the Speaker’s decision. The Mirwaiz said on X: “It is ridiculous and condemnable that Tamil Nadu which only has 6% Muslim population, passes a strong anti Wakf resolution in it’s assembly, while the Muslim majority J&K assembly speaker is struggling and refusing, by hiding behind technicalities, to discuss this deeply concerting issue for the Muslims of the state. The speaker would know that the strong peoples mandate given to his party was precisely for the reason that the party had promised to safeguard the interests of the people being trampled upon since August 2019 and take a stand for them in critical matters. Why is he capitulating so meekly?”
Business
Google to empower 20 AI-powered Indian startups

New Delhi, April 7: Tech giant Google on Monday announced that it is all set to empower 20 Indian startups through the second edition of its ‘Google for Startups Accelerator: Apps’ programme.
The initiative, supported by Google Play, is designed to help app-based startups in India make the most of artificial intelligence (AI) and scale their products effectively.
The programme is being run in collaboration with the MeitY Startup Hub, whose support, Google said, has played a key role in extending the reach and impact of the initiative.
In a statement, Google said India’s startup and developer ecosystem is a ‘hotbed of innovation’ and the company is proud to support its growth.
With the accelerator, the US-based tech major aims to equip emerging app startups with cutting-edge AI tools, expert guidance, and mentorship from its top engineers and researchers.
The programme will run for three months and is open to Indian startups that are already using AI or are looking to integrate AI into their apps.
“To be eligible, startups must have a published app on the Play Store, be incorporated in India, and be funded between Seed and Series-A stage,” said Paul Ravindranath, Programme Manager, Google for Startups Accelerator India.
The second cohort will focus heavily on AI, recognising its growing importance in the future of app development.
Through personalised mentorship and collaboration with Google experts, these startups will receive support to improve their AI capabilities, enhance user experience, strengthen security, and accelerate user growth.
Google highlighted that the first cohort of 20 startups saw major progress in technology, design, and engagement, thanks to hands-on mentorship and access to Google’s resources.
The upcoming cohort will also benefit from similar support, including custom reports to help them perform better on Google Play.
Applications are open until May 15 and the programme will begin in July with a week-long bootcamp. During the application period, interested startups can also attend weekly virtual open forums every Thursday to learn more and ask questions, according to the company.
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