#RealtyNewsRoundup: CBI Books Ex-CM Hooda In Huda Scam, Raids Across 7 Cities
Description
The Central Bureau of Investigation (CBI) conducted raids at 16 places after registering a case against former Haryana chief minister Bhupinder Singh Hooda, who happened to be the chairman of Haryana Urban Development Authority (Huda) in 2012, when allotment of 14 industrial plots were made in Panchkula to his relatives. Raids were conducted in Delhi, Faridabad, Gurgaon, Panchkula, Chandigarh, Karnal and Rohtak. Read more
Police protection for more than 40 Mumbai-based developers, including the Lodha brothers, has been withdrawn after the latest audit by Mumbai police revealed no "imminent threat perception" to these developers, according to a report in an English daily. Some of the prominant names featuring in the list are Rakesh, Dheeraj, Kapil and Sarang Wadhawan of HDIL; Abhishek and Abhinandan Lodha, the two sons of BJP MLA Mangal Prabhat Lodha of the Lodha group, among others. However, Mangal Prabhat Lodha and industrialist Nusli Wadia are among the developers who will continue to move under police cover. The report said the move would make the state exchequer richer by Rs 1 lakh per month per person. Read more
Management buyout firm Excalibur is considering joining Indian-origin businessman Sanjeev Gupta's Liberty House to acquire Tata Steel's UK assets. Excalibur, led by former chief of Tata Steel's Port Talbot plant Stuart Wilkie, is considering backing Liberty House's bid. If that happens, Excalibur as a management buyout team will cease to exit as it will fold into Liberty House. Tata Steel has so far shortlisted seven firms for the buyout. Read more
IKEA, the Swedish home furnishings company, is setting up a 400,000 sq ft store close to Mumbai, the company said. The proposed store, second in India after Hyderabad, will come up on a 23-acre land parcel located in Navi Mumbai on Thane-Belapur Road. The IKEA store in Mumbai is expected to generate a footfall of five million visitors per year. Read more
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