MahaRERA makes investor of a real estate project in Ghatkopar, also its promoter

Maharashtra Real Estate Regulatory Authority (MahaRERA) directed that a real estate fund-an investor in a large project at Ghatkopar-is also its promoter and its name be added to the project registration webpage within 30 days. MahaRERA said the shareholder agreement affords the investor conclusive opportunity to “stall project completion” or “set tone and direction of the project” making it fall under the definition of ‘promoter’ under the Act.

https://timesofindia.indiatimes.com/city/mumbai/mumbai-maharera-makes-investor-of-a-real-estate-project-in-ghatkopar-also-its-promoter/articleshow/92860106.cms

Source – Times Of India 

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