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Bombay HC Cancels NOC of Parekh Constructions for Defaulting on Transit Rent Payment

The Bombay high court (HC) cancelled a no objection certificate (NOC) of Parekh Constructions LLP for defaulting on the payment of transit rent to residents of the demolished building, which the builder is redeveloping. The HC has also directed Maharashtra Housing and Area Development Authority (MHADA) to issue a formal letter for NOC cancellation without giving the developers any hearing opportunity. ....

India General , Justice Gautams Patel , Parekh Constructions , Nishcon Realty , Area Development Authority , Nishcon Realty Pvt Ltd , Maharashtra Housing , Justice Neela Gokhale , Mutual Fund Returns , Ank Fixed Deposits , Nvestor Returns , Ortfolio Allocation ,