H-Rera clips lender's wings in takeover case
India, Sept. 19 -- In an important decision, the Haryana Real Estate Regulatory Authority (H-Rera), Gurugram, on Friday said that banks and other financial institutions that take over projects due to non-payment of loans by developers would be treated as promoters. The authority also held that the interests of homebuyers who have invested in such projects should not be considered subservient to that of other stakeholders....
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