Aaditya Thackeray seeks Shinde's sacking over cancellation of MMRDA's 2 big-ticket projects; calls for probe

On Friday, the Mumbai Metropolitan Region Development Authority (MMRDA) told the Supreme Court that it was scraping two tenders associated with the Gaimukh-Ghodbunder-Bhayander project and said it would start the process of inviting bids anew 'to safeguard larger public interest'.

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Business Standard

an hour ago

• Business Standard

Why is registration not enough to prove you own a property?

In a significant ruling, the Supreme Court has reiterated that merely registering a property does not make you its legal owner. The judgement, delivered in the Mahnoor Fatima Imran vs M/S Visweswara Infrastructure Pvt Ltd case, has direct implications for millions of Indian homebuyers and investors. If you've bought a property based solely on a registered sale deed, you may want to read the fine print and go beyond. Registration is not ownership: What the law actually says 'Ownership of a property comprises several aspects, of which registration is only one,' says Harsh Parikh, partner at a law firm, Khaitan & Co. Under Indian law, properties above ~100 require registration. But that's not all. 'A buyer must also prove full payment, possession, and custody of original title documents,' he explains. 'Registration provides prima facie evidence of a transaction, but it doesn't confer valid ownership if the transferor lacked the legal right to sell,' added Rakesh Malhotra, chairman and director of PRIME Developments. When registered property deals can still be invalid Even a registered sale can be set aside by courts in several scenarios: 'If the buyer hasn't fully paid, or fraud, coercion, or impersonation is involved,' says Parikh. 'If the seller is a minor, mentally incompetent, or doesn't legally own the property,' adds Malhotra. Aman Sharma, MD of Aarize Group, notes that lack of government approvals, like change of land use, can also render a sale invalid. In short, a registered paper doesn't protect a buyer from a flawed or forged transaction. How to verify property title the right way? Experts unanimously stress the need for robust due diligence before buying any property: Examine the full chain of title for at least 30 years Check encumbrance and mutation records Ensure there's no pending litigation or tax dues Issue a public notice to invite claims Verify zoning permissions and consult a property lawyer 'Simply holding a registered deed is not enough. You must confirm the seller actually owns what they're selling,' cautions Malhotra. The SC's message: Buyer beware The ruling underscores a long-standing principle, aveat emptor, or 'buyer beware.' 'The court has clarified that title flows from lawful ownership, not just paperwork,' says Sharma. If a registered deed is based on fraud or defective title, buyers could face eviction, lose money, or get entangled in court cases. For Indian property buyers, the message is clear: don't mistake registration for legitimacy. Do your homework, get expert help, and verify every layer of ownership.

News18

3 hours ago

• News18

'No Grounds To Slash Salary': SC Restores Compensation For Road Accident Victim's Family

Last Updated: The claimants had sought compensation for the death of the bread winner of the family who was 28 years old when he met with the accident and succumbed. The Supreme Court has taken an exception to the reduction of salary of a deceased in computing compensation under the Motor Vehicle in a road accident case, while also emphasising even the children and the parents are entitled to compensation for loss of consortium. A bench of Justices Sudhanshu Dhulia and K Vinod Chandran restored the order of the Motor Accident Claim Tribunal which awarded a total amount of Rs 23,07,000 to the dependents adopting the salary claimed of Rs 10,000 and reducing 1/3rd for personal expenses while taking 3/4th of 40 per cent of the income of the deceased as future prospects. The appellants, Hansa Devi and others were the legal representatives of the deceased in a motor accident. They were the widow, three minor children and parents. The deceased was the driver of a truck in which a helper/cleaner was accompanying him. The driver had alighted after parking the truck and when he was boarding the truck, another truck driven rashly and negligently hit him and he died on the spot. An FIR in the matter was lodged. The claimants sought compensation for the death of the bread winner of the family who was 28 years old when he met with the accident and succumbed. The Tribunal awarded a total amount of Rs 23,07,000. The wife was granted loss of consortium at the rate of Rs 40,000, the children Rs 25,000 each and the parents Rs 10,000 each. The funeral expenses and loss of estate was also awarded at the rate of Rs 15,000 each. The Insurance Company filed an appeal before the High Court in which there was considerable deduction made especially on the salary, which was reduced to Rs 4,076 adopting the minimum wages for a driver as Rs 5,434 with 40% future prospects. The claimants were granted only Rs 40,000 towards loss of consortium. The amount awarded was reduced to Rs 12,34,105. Having the heard the parties, the bench said, 'We find no reason to accede to the reduction of income as done by the High Court". The court noted the accident occurred on May 08, 2014. In Ramachandrappa Vs Royal Sundaram Alliance Insurance Co Ltd (2011) this court held that even a coolie would get an income of Rs 4,500 in the year 2004. Hence, an unskilled labourer considering the marginal and incremental increase in each successive year at the rate of Rs 500 per year would be entitled to get almost Rs 10,000 in the year 2014, it said. Thus, the bench said, 'The claim made before the Tribunal with respect to the driver of heavy vehicle getting Rs 10,000 as wages per month must be necessarily accepted". Insofar as the loss of consortium, the court pointed out, it has been held in New India Assurance Company Vs Somwati and Ors (2020) that even the children and the parents are entitled to compensation for loss of consortium. 'Since no appeal is filed by the claimants from the award of the Tribunal, we do not think there is any enhancement required. Still the award made as compensation for loss of consortium to the children and the parents by the Tribunal has to be retained," the bench said. Therefore, the court set aside the order of the High Court restoring the order of the Tribunal. The amounts, with interest, as awarded by the Tribunal would be disbursed to the claimants within a period of two months, which would be equally apportioned in the name of the wife, children and parents, it clarified. 'If any of the minor children have not attained majority, the amount shall be kept in a fixed deposit, the interest of which can be disbursed to the mother who is the guardian," the bench further added.

Time of India

4 hours ago

• Time of India

What does future hold for Indian telecom operators facing financial pressures?

The telecommunications sector in India has been highly regarded as the backbone of digital transformation . Over the years, this sector has witnessed a remarkable growth with the proliferation of 5G, increased data consumption, innovation and digital connectivity in remote and underserved areas. However, it is a matter of public record that telecom companies in India are debt-ridden and subject to mounting financial pressures with high spectrum costs and license fees, while also navigating a price competitive market and diminishing margins. With telecom operators being on the frontline of this digital transformation, it is imperative to highlight and address the complex realities of financial burdens encountered by these companies, especially in the current inflationary market. In this article, we explore the financial strain on telecom operators caused by high spectrum costs and legacy 'Annual Gross Revenue' (AGR) dues. Soaring spectrum costs: Spectrum charges contribute to one of the major financial pressures of telecom operators. According to Global System for Mobile Communications Association's study, telecom companies in India spend approximately 26% of their recurring revenues on spectrum fees. For perspective, telecom operators across the globe spend an average of 5-7% of their revenue. Accordingly, the spectrum cost incurred by Indian operators is not only concerningly high, but is also the highest globally. Such prices are bound to have a negative impact on the industry, affecting innovation and rollout of new technologies, quality of network and services and affordability. Notably, such spectrum charges constitute a major cause of debt suffered by telecom operators. Some of the smaller players have succumbed to the financial strain and have exited the market. Legacy AGR dues: The conclusion of a regulatory dispute before the Supreme Court over the definition of 'gross revenue' turned into one of the most significant financial concerns in the history of the telecom industry. When telecom operators moved to a revenue-sharing model with the Department of Telecommunications (DoT), where they agreed to share a fixed percentage of their AGR as license fees, there was lack of consensus on the definition of 'gross revenue'. Telecom operators supported the view that AGR should only include revenue from telecom services, whereas DoT argued that AGR should include all income, including interest, dividends, capital gains, etc. This disagreement was finally put to rest in 2019, when the Supreme Court upheld DoT's definition of the AGR, and held telecom operators responsible for clearing all the past unpaid AGR dues, aligned with the new definition, including penalties and interest. This decision culminated in cumulative liability of several thousands of crores as AGR dues for telecom operators. Many companies were also on the verge of bankruptcy. To bring some relief, the Government stepped in with a telecom reform, which included a 4-year moratorium on AGR and spectrum dues. While the reform provided some comfort, till date, this decision continues to weigh on some of the telecom operators. Impact of the financial liabilities The heavy financial liabilities have significantly impacted the telecom operator's ability to expand network, invest in infrastructure and adopt new technologies. This hinders the achievement of India's overall growth strategy in terms of quality of network, expansion to rural areas and technology upgrades and innovation. This will also result in constraints on investments in digital services and diversification. Another direct impact will be on the tariff plans, which have been periodically raised by telecom operators since 2020. Further, the telecom market competition will be majorly affected, which is currently housing only 3 major players that have survived the financial challenges, post the exit of smaller players. Such impact on competition will leave subscribers with lesser choice, subject them to higher tariffs, and provide telecom operators lesser incentive to innovate. Road Ahead Given the country's vision and goal towards becoming a digital major and the 'essential' nature of telecom services, the financial challenges of the telecom sector is not just an industry issue, but should be a matter of national importance. Pursuant to the financial crisis and regulatory uncertainties, it is crucial to introduce policy reforms, regulatory changes, and incentives to relieve telecom sector of such challenges. Government can introduce measures to permit deferred payment of spectrum charges, rationalise of debts, prohibit excessively high spectrum pricing, etc. Additionally, regulatory clarity around revenue sharing and applicable obligations will boost the confidence of investors. It is also pertinent to strengthen the digital infrastructure and expand the digital ecosystem through policy backing and infrastructure sharing. Telecom operators can also explore options to expand their revenues through provision of digital platform services, enterprise services such as cloud communications, etc. However, the definition of 'gross revenue' may be revisited and clarified so that telecom operators are not constrained from expanding and diversifying their business due to the fear of excessive license fee payment obligations. This will help in reshaping India's telecommunications sector to a more resilient and financially stable industry, with multiple players and improved competition. (DISCLAIMER: The views expressed are the authors' personal.)