#RealtyNewsRoundUp: Relief For Unitech As SC Stays NCLT Order

The Supreme Court on December 13 stayed the December-8 order of the National Company Law Tribunal (NCLT) allowing the Centre to take over the management of embattled real estate company Unitech Limited. The apex court, which had on December 12 expressed its displeasure over the Centre's move to approach the NCLT, said the stay on the company law tribunal's order would meet the end of the justice.

***

China-sponsored Asian Infrastructure Investment Bank has approved a $335-million loan for an electric Metro project in Bengaluru. The investment in the Bangalore Metro Rail Project-Reach 6 (R6) is the AIIB's first such financing and its first joint-financing partnership with the European Investment Bank. The European Investment Bank is the project's lead financier, with €500 million in funding.

***

The government plans to enforce a slew of measures such as mechanised road sweeping, easing traffic congestion and controlling dust to tackle air pollution in national capital region (NCR). A high-level meeting chaired by Environment Minister Harsh Vardhan on December 12 also decided that major construction sites be monitored closely to tame pollution.

***

The Supreme Court has rapped authorities in Delhi, saying they do not appear to have a "strong desire" to deal with the issue of solid-waste management which is a huge problem for the entire country. The top court on December 12 asked Delhi Health Minister Satyendra Jain to urgently convene a meeting of the committee on the issue of solid-waste management, and said a definite plan of action be prepared for the national capital.

Source: Media reports