#RealtyNewsRoundup: Probe Agencies Can Take Over Properties Attached With Banks, Rules HC

In a verdict that will empower probe agencies, including the Enforcement Directorate, the Central Bureau of Investigation and the Income Tax Department, the Delhi High Court has ruled that these could attach properties of economic offenders even if the assets are attached with financial institutions. While ruling that in cases of properties obtained as "proceeds of crime" the money laundering law prevails over the Bankruptcy Act and insolvency code, the HC has also ruled that properties that were acquired by the economic offenders before the perpetration of the crime can also be attached by investigation agencies.

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A report by TransUnion CIBIL says that unsecured lending categories like credit card loans, personal loans and consumer durable loans grew at 31.3 per cent in the fourth quarter of calendar year 2018. Secured lending that includes loan against property, auto loans and home loans on the other hand experienced a moderation in growth in the same period, says the report, and grew 21.8 per cent, 17.4 per cent and 17.1 per cent, respectively.

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Those who have applied for a flat under the Delhi Development Authority’s Housing Scheme, 2019, can visit sample flats at Vasant Kunj and Narela. Sample flats are open for inspection to public on all days, including Saturdays and Sundays from 10 am to 6 pm. The DDA on March 25 had launched its new housing scheme online, which offers nearly 18,000 flats across four categories. The DDA has also made arrangement for running of shuttle bus service from the Jahangirpuri Metro Station to Narela every Saturday, Sunday and on public holidays. The scheme closes on May 10.

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Since only 48 per cent of the work is complete so far, an eight-kilometre stretch of the Delhi-Meerut Highway in Ghaziabad that was scheduled to open this month may be delayed further.  This stretch runs between UP Gate and Vijay Nagar. Work is likely to be completed by the end of April.

Source: Media reports