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.
Source – Times Of India
