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Other Developments
A curated list of other prominent stories from this day.
11:11 PMEconomic Times Realty
ED attaches 389 properties worth ₹240 crore in Grand Venezia money laundering case
Summary
The Enforcement Directorate provisionally attached 389 immovable properties worth ₹240.03 crore in a money laundering case tied to Bhasin Infotech and Infrastructure, Grand Venezia Commercial Towers, and related individuals. Authorities estimate the properties' current market value at over ₹700 crore.
Why it matters
Large-scale attachments can instantly impair project cash flows and titles, turning a legal case into a balance-sheet shock for everyone tied to the assets.
SC gives Parsvnath Developers one week to deposit dues to homebuyers, warns next step is jail
Summary
The Supreme Court gave Parsvnath Developers one final week to deposit homebuyer dues, requiring the full amount with 12% interest. The court warned that failure to comply will lead to imprisonment of the company's directors.
Why it matters
Personal liability for directors can reset incentives in stalled-project cases and accelerate cash recovery for homebuyers.
Smartworks leases over 1,100 seats to L&T Technology Services in Pune
Summary
Smartworks expanded its existing relationship with L&T Technology Services by leasing more than 1,100 additional seats in Pune. The expansion is expected to generate about ₹55 crore in rental revenue over 60 months.
Why it matters
It signals that flex workspace is becoming a mainstream expansion channel for big corporate tenants, supporting demand and cash flows in key office hubs like Pune.