Major builders in Mumbai accused of flouting realty law
The Maharashtra Pollution Control Board (MPCB) has slapped showcause notices on 12 builders, including Indiabulls and the Rahejas, for violating environment norms.
On November 23, the Board issued notices to Indiabulls, Nilkanth Tech Park, Suresh Estates Pvt Ltd, Prime Properties Ltd, Shreeniwas Cotton Mills, K Raheja, Capricorn Realty, Macro-Tech Constructions Pvt Ltd, Jawala Real Estate Pvt Ltd, Ramnani and Associates, Neelkamal Sumer Realtors and Real Gem Build Tech Pvt Ltd.
The notices were issued based on complaints received by the Board from retired IPS officer-turned-lawyer, Y P Singh. It is said that the companies had failed to obtain environmental clearances as required under the Environment Impact Assessment notifications issued by the Minsitry of Environment and Forests (MoEF).
According to the notification, for any construction undertaken on a gross built-up area of more than 20,000-square metre, a prior environment clearance is required even before ‘land preparation’ begins.
Following the complaint, MPCB had asked the companies to furnish detailed information about the plan as well as the sanctions granted for the projects. Since, the companies failed to respond, showcause notices were issued to them as disciplinary action.
The MPCB has served a fortnight to all the builders to respond to its notices, failing which it has threatened of punitive recourse.
Real gem builder is developing “Orchid Crown” multistoried thrice tower on land of Bhishma Realty (A SPV of Hindoostan Spg & Wvg Mills Ltd. – Thackersey Group)
Share Capital of “Bhishma Realty” is only 100020Rs. Against development of total 3000000 Sq. Ft. Aprox. area. Market rate of such types of accomadation is around 30000Rs. per sq. ft.
But company has declared an open offer for small & scretted share holders at 35000Rs. per share only. Which nothing but simply cheating. But there is no scope for small, scretted & poor share holders to say anything for their rights. Corporate governance only good word which is also not effactive because of compnay is unlisted. Than any stock exchanges are not able to do any thing. Moreover such types of small share holders could not know anything about CLB, SEBI, ROC department as well as rules and regulation for same. If you may take intrest to justify the matter to improve the value of media likes you. Thanks….