Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.
HC restrains ED from taking coercive steps against Piramal Realty in Omkar Group case
The Delhi High Court restrained the Directorate of Enforcement (ED) from taking coercive steps against properties worth INR 410 crore of Piramal Realty that the federal agency had provisionally attached in January. The ED had alleged that Omkar Group (that has various joint development agreements with Piramal Realty) took a INR 410 crore loan from Yes Bank to construct buildings for slum dwellers under the Slum Rehabilitation Authority (SRA) scheme at Wadala (in Mumbai) but redirected the money in relation to which Piramal Realty's properties were attached.
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Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.