The Supreme Court on Wednesday sought responses from the Centre and the Election Commission on a PIL seeking voting rights for non-resident Indians (NRIs) in polls here.
A bench comprising Chief Justice N V Ramana and Justices J K Maheshwari and Hima Kohli took note of the PIL filed by the Kerala Pravasi Association that the NRIs be given the voting rights.
The top court issued notices and ordered the tagging of the PIL with pending ones on the issue.PTI
Switch Mobility, the electric vehicle division of Hinduja group’s flagship Ashok Leyland, unveiled the country’s first electric double-decker air-conditioned bus here on Thursday.
These buses will replace the existing double-decker fleet of the BEST (Brihanmumbai Electricity Supply and Transport) undertaking.
As of now, Switch is operating its twin-floor electric AC buses in the United Kingdom.
Switch India has already secured an order of 200 electric double-decker buses in Mumbai and is looking at a dominant space in the electric double-decker segment, across key regions in the country, the company said.
“We already have an order for 200 electric double-decker AC buses in Mumbai. We will deliver 50 of these buses this financial year. Many more cities are discussing with us for these buses,” Mahesh Babu, CEO Switch Mobility India and COO at Switch Mobility Ltd told PTI.
Babu said amid discussions with multiple players, “we are expecting to deliver some 150-250 buses next year.”
In April this year, Switch Mobility announced an investment of 300-million pounds to develop a range of electric buses and light commercial vehicles in India and the UK.
“Ashok Leyland was a pioneer among Indian manufacturers when it first launched the double-decker in 1967 in Mumbai and Switch is carrying forward that legacy.
“With our strong expertise in double-deckers, both in India and UK and with over 100 Switch electric double deckers in service on UK roads, we reinforce our commitment to create this form factor (design) for India and the globe,” said Dheeraj Hinduja Chairman – Switch Mobility.
The electric double-decker AC bus EiV22 is powered by a 231 kWh capacity battery pack with dual gun charging system, which allows the bus to have a range up to 250 kms for intra-city transport, according to the company.
“The Switch EiV 22 is designed and developed to meet Indian conditions. Mumbai and double-deckers are synonymous with public transport, and we are certain that EiV 22 will transform the public transport space in terms of sustainability and footprint,” said Babu.
Bharti Airtel received spectrum allocation letter within few hours of making upfront payment to the Department of Telecom, Bharti Enterprises founder and chairman Sunil Bharti Mittal said on Thursday.
This is the first time ever that the Department of Telecom (DoT) has handed out a spectrum allocation letter on the day of making upfront payment.
“Airtel paid Rs 8,312.4 crore towards spectrum dues and was provided the allocation letter for the designated frequency bands within hours. E band allocation was given along with spectrum as promised. No Fuss, No Follow Up, No running around the corridors and No tall claims. This is ease of doing business at work in its full glory,” Mittal said in a statement.
The Department of Telecom has received payment of around Rs 17,876 crore from service providers — Bharti Airtel, Reliance Jio, Adani Data Networks and Vodafone Idea for spectrum they won in a recent auction.
While all telecom operators have opted to make payments in 20 annual installments, Bharti Airtel paid Rs 8,312.4 crore equivalent to four annual installments.
“In my over 30 years of first-hand experience with DoT, this is a first ! Business as it should be. Leadership at work-Right at the top and at the helm of telecom. What a Change ! Change that can transform this nation power its dreams to be a developed nation,” Mittal said.
Airtel acquired 19,867.8 MHz spectrum by securing a pan-India footprint of 3.5 GHz and 26 GHz bands and select purchase of radio waves in low and mid-band spectrum.
The country’s biggest ever auction of telecom spectrum received a record Rs 1.5 lakh crore worth of bids, with Mukesh Ambani’s Jio cornering nearly half of all the airwaves sold with a Rs 87,946.93 crore bid.
Reliance Jio has made payments of Rs 7,864.78 crore, Vodafone Idea Rs 1,679.98 crore and Adani Data Networks Rs 18.94 crore.
Richest Indian Gautam Adani’s group has placed bids worth Rs 211.86 crore for 400 MHz in a band that is not used for offering public telephony services.
Telecom tycoon Sunil Bharti Mittal’s Bharti Airtel made a successful bid of Rs 43,039.63 crore, while Vodafone Idea Ltd bought spectrum for Rs 18,786.25 crore.
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Mumbai, Sep 7 The Taxmann’s ‘Maharashtra RERA Law & Practice’ by Western India
Regional Council (WIRC) of Institute of Chartered Accountants of India (ICAI) was on Tuesday
released by MHADA chairman Dr Vinod Ghosalkar and ICAI president CA Nihar Jambusariya
and WIRC chairman CA Manish Gadia.
The huge book includes the provision of RERA Rules, Regulation, Notification, Circulars and the
relevant case authored by over 100 industry experts by forming study group, headed by CA
Ramesh Prabhu as convener and editor, and CA Kuashik Sampat as co-editor under the
guidance of MahaRERA officials.
It has also covered the peripheral and most important legal provisions affecting the real estate
transactions such as Income Tax, GST, IBC, FEMA, PMLA, MRTP, DCPR, MOFA, Transfer of
Property Act, stamp duty, registration, Consumer Protection Act, etc.
This book incorporates the perspectives of the various stakeholders including representatives of
Self-Regulating Organisations and others.
The contents of this book are from various 10 perspectives including promoter, general, agent,
allottees, professional, redressal, Income Tax, GST-Taxation, GST and Stamp Duty and
Registration, Allied Laws-Other Allied Laws like MRTP, DCPR, IBC, consumer protection,
Miscellaneous topics related to Real Estate Ruling & Redevelopment Act and Rules Act, Rules,
Notification and MahaRERA Order and circulars.
WIRC’s Maharashtra RERA Law & Practice covers the Real Estate Regulating Authority Act (RERA) along with Rules, Regulations, Notifications, Circulars & relevant Case Laws for complying with the provisions of RERA. The book aims to organise the learnings of RERA implementation (since its inception) & correlating the legal provisions (such as Circulars, Orders, etc.) to give a complete picture of the law
This book incorporates the perspectives of the following stakeholders:
Representatives of Self-Regulating Organisations
Brihanmumbai Developers Association
CREDAI-MCHI
NAREDCO
Builders Association of India
Representatives of Association of Allottees & Professional Bodies
PEATA
Bar Association of MahaRERA & MahaREAT
Members of WIRC of ICAI
Mumbai Grahak Panchayat
Confederation of Residents Welfare Association
Maharashtra Cooperative Housing Federation Ltd.
Maharashtra Societies Welfare Association
Mumbai District Cooperative Housing Federation
Women Legal Forum for CHS
Engineers Associations
This book will be helpful to the following:
Chartered Accountants
Advocates
Promoters & Investors
Real Estate Agents
Allottees (including Association of Allottees), Flat Purchasers
Policy Makers, RERA Authorities & Officials from the RERA Appellate Tribunal
Engineers
Contractors & Architects
Project Management Consultants
Developers & Development Managers
The Present Publication is the 1st Edition, authored by the study group of industry experts & representatives from all stakeholders, edited by CA Ramesh S. Prabhu & co-edited by CA Kaushik Sampat, reviewed under the guidance of Hon’ble Shri S.S. Sandhu, Shri. Gautam Chatterjee, Shri. Sumant Kolhe, Shri. B.D. Kapadnis & Shri. D.R. Hadadare, with the following noteworthy features:
[Coverage of each aspect of Real Estate Transactions] with the following:
Necessary legal provisions
Steps & prescribed procedures for compliance (Standard Operating Procedures)
The consequential risk of violation and inviting penal actions
FAQs and the Judicial Rulings have been included to make the manual relevant and practice-oriented
Covering representation aspects of appearing before the Real Estate Regulatory Authority, Adjudicating Officer, Real Estate Appellate Tribunal
[Practical Manual in Simple Language] with the discussion of the provisions along with Rules, Orders, Regulations, and applicable Circulars for each particular chapter
[Practical Ready Referencer] The various formats, drafts and specimen are included in the manual, where the practitioner may accordingly decide to change the draft considering the facts and the relief claimed
[360° Coverage] This book covers the legal and practical aspects of Maharashtra RERA along with other legal provisions affecting the real estate transaction such as:
Income-tax Act
Goods & Services Act
Insolvency & Bankruptcy Code
Consumer Protection Act
Maharashtra Ownership Flats (Regulation of the Promotion of Construction, Sale, Management and Transfer) Act
Maharashtra Apartment Ownership Act
Transfer of Property Act, Stamp Duty & Registration
Prevention of Money Laundering Act
Foreign Exchange Management Act
Monopolistic and Restrictive Trade Practices Act
Development Control and Promotion Regulation
The detailed contents of the book are as follows:
General – Applicable to all Stakeholders
Overview of RERA, 2016
Journey & Implementation of RERA
Objective and Purpose of RERA
Real Estate Sector Deficiencies Addressed by RERA
The Authorities to Implement the Act
Powers and Functions of Real Estate Regulatory Authority
Powers and Functions of Adjudicating Officers
Central Advisory Council – Establishment and Functions
Real Estate Appellate Tribunal and its Functions and Powers
Promoter – From the Promoters Perspective
Promoter under RERA
Functions and Duties of Promoter
Registration of Real Estate Project – Legal Framework
Documents Required and the Process of Registration
Operation of RERA Designated Bank Account
A Financial Planning for Real Estate Projects
Project Updates to be Done by the Promoters
Procedure to Extend the Period of the Registration
Procedure for Amendment or Modification in the Sanctioned Plans
Transfer of Real Estate Project to Third Party
The Transfer of Title
Force Majeure and COVID Impact on Real Estate Sector
Advertising and Marketing Post RERA
Importance of End Date/Completion Date and Date of Possession under RERA
Change in Process and Procedure of Real Estate Business post-RERA
Car Parking Space and MahaRERA Circular
RERA Compliance Report by Chartered Accountant
Agent – From the Real Estate Perspective
Registration of Estate Agents – Legal Framework
Process to Obtain Registration for Real Estate Agent
Functions of the Real Estate Agent
Impact of RERA on Estate Agents
Changing Business Landscape for Realtors post RERA
Allottees – From the Allottees and the Association of Allottees Perspective
Revocation of Registration of the Project
Stalled Real Estate Projects and Revival
Alternative Investment Fund for Real Estate including SWAMIH FUNDS
Rights and Duties of Allottees
Association of Allottees
Remedies for Conveyance and Deemed Conveyance
Allottee Due Diligence before Purchasing Property
Professional – From Professional Perspective for CAs, Advocates, Engineers, Architects
Title Certificate
Allotment Letter, Agreement for Sale and Sale Deed
Role and Responsibilities of Architect under RERA
The Roles and Responsibilities of a Civil Engineer and Issue of Form 2 under RERA
Quality Assurance and Defect Liability under RERA
Certificate in Form 3 by Chartered Accountant
Audit by Chartered Accountant under MahaRERA (Form 616 No. 5)
Guidance Note on Accounting for Real Estate Transactions 668 (Revised 2012) and Revenue from Contracts with Customers (Ind AS-115)
Key Audit Challenges – Real Estate Sector
Real Estate Collaborations & Significance of Corporate Due Diligence
Redressal – Redressal System: Complaint, Appeal, Second Appeal, Conciliation
Source Complaints against Unregistered Projects for Registration
Complaint Filing and its Procedure
Process of an Inquiry by the Authority or Adjudication Officer
Appeals under RERA
Second Appeal before High Court
Execution of Orders of MahaRERA and Adjudicating Officer
Execution of a Decree under Code of Civil Procedure, 1908
Complaints by Association of Allottees
Offences and Penalties
MahaRERA Conciliation and Dispute Resolution Forum
MahaRERA Conciliation Forum Role Model of ADR in Real Estate Sector
Income Tax, GST – Taxation: Income Tax, GST, Stamp Duty and Registration
Income-tax Applicable on Real Estate Transactions
Overview of GST Implications of Real Estate Sector
Stamp Duty and Registration
Allied Laws – Other Allied Laws like MRTP, DCPR, IBC, Consumer Protection, etc.
Real Estate Laws of India
Salient Features of Maharashtra Ownership Flats Act, 1963 (‘MOFA’)
Comparison between MOFA and RERA
Overview of Maharashtra Apartment Ownership Act, 1970
Development Control Regulations and MahaRERA
Consumer Protection and RERA: Best Recourse to Allottees
Draft Format/Specimen of Consumer Complaint
Landmark Judgments of the Consumer Courts
Insolvency Resolution Process in Real Estate
Interplay of PMLA, Benami, FEMA with RERA
Miscellaneous – Topics Related to Real Estate Rulings & Redevelopment
Constitutional Validity of RERA
Analysis of Judgments
Society Redevelopment and RERA
Act and Rules – Act, Rules, Notifications, MahaRERA Orders and Circulars
The Real Estate (Regulation and Development) Act, 2016
Maharashtra Real Estate (Regulation and Development) (Registration of Real Estate Projects, Registration of Real Estate Agents, Rates of Interest and Disclosures on Website) Rules, 2017
Maharashtra Real Estate Regulatory Authority, Chairperson, Members Officers and other Employees (Appointment and Service Conditions) Rules, 2017
Maharashtra Real Estate (Regulation and Development) (Recovery of Interest, Penalty, Compensation, Fine Payable, Forms of Complaints and Appeal, etc.) Rules, 2017
Maharashtra Real Estate Appellate Tribunal (Members 1405 Officers and Employees) (Appointment and Service Conditions) Rules, 2017
Maharashtra Real Estate Regulatory Authority (Form of Annual Statement of Accounts and Annual Report) Rules, 2017
Maharashtra Real Estate Regulatory Authority (Recruitment and Conditions of Service of Employees) Regulations, 2017
Maharashtra Real Estate Regulatory Authority (General) Regulations, 2017
Maharashtra Real Estate Regulatory Authority (General) (Amendment) Regulations, 2019
Maharashtra Real Estate Regulatory Authority (General) (Second Amendment) Regulations, 2019
Constitution and Operations of Real Estate Regulatory Fund
MahaRERA Orders and Circulars (Selected and Important)
Maharashtra Real Estate Appellate Tribunal Regulations, 2019
Circulars – Appellate Tribunal (Selected and Important)
Ramesh S. Prabhu
CA. Ramesh S. Prabhu is a highly qualified Mumbai-based Chartered Accountant with CISA (USA) practising for over the last 22 years and a well-known public figure. He is hailed as the Architect of Deemed Conveyance. His area of specialisation has been the Cooperative Housing sector. He has authored around 60 books on various issues on Housing society functioning like conveyance, transfer of flats, parking, repairing, collection of dues from members, income tax, service tax for housing societies etc. All of these books were released by the Ministry of Cooperation, Govt of Maharashtra, under the hand of the Cooperative Secretary at the Housing Society Expo, held in Mumbai during 2006.
CA. Ramesh Prabhu has compiled 101 Judgment Series Books for the Office Bearers and Members of Housing Societies on different topics. He was appointed as a Member of the Committee by the Govt. of Maharashtra in 2008 to frame the law pertaining to Deemed Conveyance. The Govt. has since passed the Bill on Deemed Conveyance which has been signed and endorsed by the President of India.
Kaushik Sampat
CA Kaushik Sampat has a comprehensive experience of more than three decades in all aspects of finance, accounts, commercial operations, budgeting, administration, MIS reporting, statutory compliance with astute planning & organisational skills in real estate and infrastructure companies. He has expertise in engineering construction industry with detailed knowledge of working capital management, cash flow & project management, along with handling accounting & cost control simultaneously of multiple projects of various nature and sizes.
Broadly familiar with the framework of laws governing the real estate industry, including an understanding of regulatory approvals sequence & processes, and proficient in MahaRERA.
S.S. Sandhu
Hon’ble Shri S.S. Sandhu is an administrative member of MahaREAT
Gautam Chatterjee
Shri Gautam Chatterjee is a retired IAS officer of the Maharashtra cadre and is Chairperson of the Maharashtra Real Estate Regulatory Authority (Maha RERA). A Gold Medallist in M.Sc. Mathematics from Patna University also holds a PG diploma in Urban Planning and Housing from The Netherlands. Mr. Chatterjee has held several important assignments in the Government of Maharashtra and Government of Bharat, including Joint DG of Foreign Trade in the Ministry of Commerce, CEO of Maharashtra Housing and Area Development Authority, CEO of Slum Rehabilitation Authority, and Principal Secretary of Maharashtra Housing Department.
Sumant Kolhe
Shri. Sumant Kolhe is a former Judicial Member of MahaRERA
Free Shipping in India on order Click Link
https://www.taxmann.com/bookstore/product/7138-maharashtra-rera-law-and-practice
Adani Power on Thursday said its consolidated net loss widened to Rs 682.46 crore in the June quarter, mainly due to lower revenues on account of low power demand during the lockdown.
The company had posted a net loss of Rs 263.39 crore for the same period last year.
The total income of the company in the quarter declined to Rs 5,356.19 crore, from Rs 8,014.50 crore in the year-ago period, Adani Power said in a BSE filing.
The company’s consolidated net loss was Rs 2,274.77 crore for 2019-20, while total income stood at Rs 27,841.81 crore in the fiscal.
Average plant load factor (PLF or capacity utilisation) achieved during the first quarter of FY21 was 51 per cent, as compared to 78 per cent in Q1 FY20.
The PLF is lower due to the decline in power demand following the announcement of a nationwide lockdown to combat COVID-19, it said.
Consolidated units (of power) sold for the quarter stood at 12.7 BU (billion units), as compared to 16.5 BU in the same quarter previous fiscal.
Despite the lockdown, 3,300 MW Tiroda plant witnessed a good demand for power for the major part of the quarter.
Kawai plant (1,320 MW) also saw improved PLF in June 2020, after the lockdown was relaxed and power demand started to normalise.
However, it said, the Udupi plant witnessed a sharp fall in PLF due to a slump in power demand.
Mundra plant’s PLF was also affected by lower power demand and subdued short-term market tariffs.
On the other hand, all power plants were able to achieve or exceed normative availability under long-term PPAs (power purchase agreements) through diligent efforts, despite restrictions imposed during the lockdown, in fulfilment of their role as providers of the essential service of electricity generation, the company said.
“Adani Power continues to march ahead towards achievement of its vision to play an important role in fulfilling India’s growing demand for electricity. The Adani Group has a strong belief in India’s economic fundamentals and potential, and the role of the infrastructure sector in attaining long term growth.
“Achieving the Government’s ambitious targets for the infrastructure sector will call for a confluence of enabling policy actions, procedural reforms, and support from the financial sector, in order to reinvigorate investments by the private sector. We remain committed to sustainable growth and being an active contributor to nation building,” Gautam Adani, Chairman, Adani Group, said.
As the firm continues to seize opportunities for value creation in a challenging market and a fast-changing competitive landscape, it is focusing on operational excellence and sustainability while taking long-term decisions to enhance strategic capability and resource flexibility, Anil Sardana, Managing Director, Adani Power, said in the statement.
“Having combated and overcome the challenge posed by the COVID-19 pandemic, our resolve is to excel in all spheres of our activity and to meet the aspiration of millions of Indians who don’t have access to affordable power, has only become firmer,” he said.PTI
Air France and regional subsidiary Hop announced 7,500 job cuts Friday after the virus pandemic grounded most flights and darkened prospects for future air travel.
Activists from multiple unions protested at Air France headquarters at Paris’ Charles de Gaulle Airport as talks began Friday morning about future job prospects at France’s flagship airline.
They’re particularly angry that the French government didn’t require Air France to protect jobs when it won 7 billion euros ( 8 billion) in state bailout funds in May.
Workers warned that the job cuts will ripple across the French economy, and said bailout funds should be used to rebuild the company instead of pushing people into unemployment.
After a day of talks with personnel representatives, company management announced Friday night that it will cut about 6,500 of 41,000 jobs at Air France and 1,000 of the 2,400 jobs at Hop by 2022.
The company said most of the losses will come through not replacing retiring and departing workers and that it would encourage voluntary departures and early retirements before imposing layoffs.
Airlines around the world are forecast to lose 84 billion this year, with revenue halved. Some have filed for bankruptcy or sought bailouts to survive the near-shutdown in their activity, and officials predict the industry will take years to recover.
It’s too easy to take COVID-19 as an excuse, said Julien Lemarie, a 35-year-old Hop mechanic demonstrating at the airport.
The scale of this plan it’s enormous, it’s an absolute sledgehammer blow. Air France said its traffic sank 95% over the worst three months of the coroavirus pandemic and it was losing 15 million euros a day and that it doesn’t expect to recover until 2024.
The airline argued that the state bailout would allow it to withstand the short-term crisis and help it focus on changing its domestic business model and becoming more environmentally responsible.
The 7 billion euros in state aid for Air France is in the form of loans and loan guarantees and part of a broader 15 billion euro rescue plan from the government for the aviation sector.
The Air France meetings come days after European aircraft manufacturer Airbus, based in France, said that it must eliminate 15,000 jobs to safeguard its future.PTI
Vuln!! Path it now!!
Cloud-based software provider Salesforce is focusing on strengthening its operations in the country, creating a unified structure that can create an “India story”, its India head said.
“My focus will be to create that India story, create a unified structure….the India leadership will look at how to get the best of resources and talent, ensure productivity, better collaboration, ensure that we get the right kind of people into the company to develop that India story and to enable us to contribute in the area of innovation, engineering and support services as well as in sales,” Salesforce India CEO Arundhati Bhattacharya told PTI.
Bhattacharya joined salesforce’s India team in April this year.
She said that the restructuring of operations will bring in more coordination between different departments.
Bhattacharya, 64, had led the digital transformation of India’s largest bank State Bank of India as its chairman. She joined Salesforce in April. Salesforce has teams in Hyderabad and Bengaluru, and over 2,500 employees in the country.
Bhattacharya said the business momentum has continued to stay strong and even during the COVID-19 pandemic, 5-6 installations have gone live.
“All of the people I have talked to in the business, they all believe that we need to prepare for a new way of doing things, there will be a new normal and all of them are looking for solutions. They know these solutions will have to be data-driven and digital platforms,” she said.
Bhattacharya added that more discussions are happening and in many ways, businesses are taking this “hiatus” to re-strategise for the future.PTI
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