CBI Seizes Records of 2 Real Estate Firms
The two Kolkata-based real estate firms are accused of collecting more than ` five crore on the pretext of providing land at prime locations to the investors at cheap rate
Dec 16, 2014
Source : The New Indian Express


BALASORE: A team of CBI officials from West Bengal on Monday seized some documents from Baliapal offices of Remac Realty India Limited and Infinity Realcon Private Limited.

The three-member team, led by SIT SP Rajiv Ranjan,  also spoke to the owners of the houses which the two firms had taken on rent for running their companies.

The two Kolkata-based real estate firms are accused of collecting more than ` five crore on the pretext of providing land at prime locations to the investors at cheap rate. The companies had also assured the customers of hefty returns in lieu of land.

Both the companies had been collecting deposits after opening their branches in Baliapal and its adjoining areas. The branch offices were sealed during the State-wide raid by the Crime Branch sleuths in May last year.  On Monday, some investors met the CBI officials and submitted documents relating to collective investment schemes floated by the two firms.

In July, Securities and Exchange Board of India (SEBI) had asked Remac Realty India Ltd to stop its ‘collective investment scheme’. SEBI had directed the company and its directors Partha Pratim Tewari, Arnab Roy and others not to collect money from investors for its existing schemes or launch any new scheme. It is alleged that the company continued to collect investment for its scheme despite SEBI instructions.


Latest Realty News

REFILE-Dubai property price rises slow, 2015 outlook stable -CBRE
Dec 16, 2014
Dubai: Increases in Dubai property prices slowed in the second half of 2014
GHMC mulls single challan for building permissions
Dec 16, 2014
HYDERABAD: The GHMC is planning to introduce a single challan system for granting building permissions in the city
Evicted for SCLR, families in fix as MMRDA reneges
Dec 16, 2014
MUMBAI: Sixty-four families who were promised 450 sq ft flats worth Rs 1.20 crore in Bandra-Kurla Complex in return for vacating their flats in two Kurla buildings to make way for the Santacruz-Chembur Link Road (SCLR) have been left in the lurch
High inventory, slow sales make PE Funds rush for bulk deals
Dec 16, 2014
MUMBAI | NEW DELHI: A record unsold inventory of more than 800,000 apartments and slow home sales are turning out to be an opportunity for private equity funds
1BHK DDA flats' plinth area decreased since 2008
Dec 16, 2014
New Delhi: Single-bedroom flats now say the houses aren't big enough to even accommodate a bed. Some allottees are planning to surrender their flats
Real estate, or more specifically, housing as an investment, is a common thread between the Delhi NC...
Dec 16, 2014
Noida: Two of these districts, Greater Noida and Gurgaon, are concrete, practical outgrowths of the National Capital
Bengaluru to benefit from Metadata e-CRM solution
Dec 16, 2014
New Delhi: Metadata Technologies, launched its new generation Online Real Estate CRM solution 'Property-xRM'
GIC invests Rs 150 crore in JV With Vatika Group for Gurgaon projects
Dec 16, 2014
NEW DELHI: Singapore's sovereign wealth fund GIC has invested Rs 150 crore in a joint venture with real estate firm Vatika group to develop two projects in Gurgaon
Bengal rush for realty masks reality
Dec 16, 2014
Calcutta: The Bengal government is upbeat about the development of a commercial township at Uttarpara in Hooghly
Unitech homebuyers protest ‘2 year delay’
Dec 15, 2014
GURGAON: More than 70 flat owners of the Unitech Vistas project in Sector 70 staged a protest against the developer over non-delivery

Latest Realty News Of State

Realty Talk's