Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.
Urban Infra VC Fund seeks cancellation of Lodha JV's MahaRERA regn
The Urban Infrastructure Venture Capital Fund (UIVCF), which counts Anand Jain's Jai Corp and Reliance Industries as core investors, has moved the Maharashtra Real Estate Regulatory Authority (MahaRERA) to cancel the registration of a joint venture project of the Lodha Group in a bid to recover its dues worth over INR 900 crore from the project in South Mumbai's Mahalaxmi locality. The Urban Infrastructure Opportunities Fund (UIOF), part of UIVCF, has filed a complaint alleging gross violations of the provisions of the Real Estate (Regulation and Development) Act, 2016 by real estate developers and partners Terraform Realty Group (the erstwhile Everest Group).
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Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.