Investment in J&K: Big numbers, small footprints
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Indian Express
05-07-2025
- Indian Express
UP Industrial Development Minister Nand Gopal Gupta asks Noida officials to make allotted land units operational immediately
Uttar Pradesh Industrial Development Minister Nand Gopal Gupta Friday directed the officials of Noida Authority to make all allotted land units operational without delay. Gupta held a high-level meeting with officials of the Noida Authority and directed them to focus on expediting development, addressing pending issues, and ensuring better accountability across departments. While reviewing the status of Memoranda of Understanding (MoUs) signed by the Authority, the minister directed that all units allotted land must be made operational without delay. He emphasised strict scrutiny of cases where allottees have shown reluctance in operationalising units despite receiving land. 'Maximum efforts must be made to ensure that allotted lands are put to productive use at the earliest,' he said. Gupta also reviewed the progress of overdue recovery, particularly from defaulters with dues exceeding Rs 100 crore. He said that in cases where legal constraints prevent action, effective legal advocacy should be employed to safeguard the Authority's financial interests. Further addressing legacy issues in group housing projects, Gupta took cognizance of actions taken under the state government's December 21, 2023, order and also reviewed builder payments and registries processed on a case-by-case basis to revive stalled housing projects. He also said in the meeting that all civil-related infrastructure projects should be completed at the earliest. These included the elevated road from Agahpur Petrol Pump to NSEZ, the administrative building in Sector-96, Chilla regulator, the elevated road parallel to Shahdara-Noida up to Mahamaya Flyover, the golf course in Sector-151A, the skywalk between Sector-51 and Sector-52 metro stations, and the 45 metre broad road to the new bridge over the Hindon river. The minister also took note of delays in undergrounding electrical substations and overhead lines, instructing departments to expedite completion. The 'Green Park Waste to Wonder' project in Sector-94 under the Horticulture Department and the progress of GBST Marg in Sector-148 were discussed. However, Gupta expressed dissatisfaction over the performance of certain advocates representing the Authority in various courts. 'Authority should review and de-panel advocates whose performances have been unsatisfactory. There should be timely disposal of departmental inquiries against officers and all employees and a quick resolution of applications for projects,' he said.
Hans India
04-07-2025
- Hans India
Cyberabad EOW nabs couple in Rs 2.11 crore cheating scam
Hyderabad: The Cyberabad Economic Offences Wing (EOW) has arrested a husband and wife duo implicated in a sophisticated cheating and criminal breach of trust case, involving criminal conspiracy that led to the defrauding of victims to the tune of Rs 2.11 crore. The accused allegedly lured individuals with promises of high returns, offering 2% interest on deposits, and also enticed them with backdoor job placements. The arrested individuals have been identified as Panem Ujwala, apprehended in Kandukur, Nellore District, Andhra Pradesh, and Mahesh Panem, arrested in Bangalore. Both are natives of Kandukur and had previously resided in KPHB, Hyderabad. According to police, the arrests followed a complaint filed on 25 June by Purimitla Rathna of SBI Colony, Bowrampet, Bachupally, leading to the registration of a case under relevant sections of cheating and Section 5 of the Telangana State Protection of Depositors of Financial Establishments (TSPDFE) Act. Police reports indicate that the accused, operating through Christ Properties (OPC) Pvt Ltd at KPHB, enticed customers and investors under the guise of real estate investments. Panem Mahesh served as the director of the company, with his wife Panem Ujwala as the nominee. The couple specifically targeted retired employees, persuading them to invest in their company with the promise of lucrative returns, specifically a 2% monthly interest on their deposits. Mahesh Panem also operated an Agarwood farmland business and is accused of collecting substantial sums from unsuspecting victims through this venture. Furthermore, the duo attracted people by promising to secure backdoor jobs through another firm, Christ Global Technologies Pvt Ltd, also located in KPHB. In total, they allegedly collected Rs 2.11 crore from five depositors through these various schemes, ultimately cheating the victims. The accused were also involved with other firms, namely Shine Solutions and Western Acqua. K Prasad, Deputy Commissioner of Police (DCP), EOW, stated that the accused collected Rs 2.11 crore from five victims, luring them with the promise of attractive returns of 2% interest on deposited amounts. To build trust and provide a semblance of security, the accused issued promissory notes, bank cheques, and Memoranda of Understanding (MOUs) to their victims as collateral. DCP Prasad further revealed, 'After collecting money from the victims, the accused paid monthly returns for a few months; however, they subsequently failed to fulfil their promise, closed their office, and absconded.' Investigations have revealed that the accused are also involved in five additional cases reported across Bachupally, Kollur, Chandanagar, and Madhapur within the Cyberabad Commissionerate limits.
Deccan Herald
08-06-2025
- Deccan Herald
Investment in J&K: Big numbers, small footprints
The underlying issue is structural: a persistent belief that Memoranda of Understanding (MoUs) are equivalent to economic activity. But paper commitments are not capital investments.
