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Business Recorder
7 days ago
- Business
- Business Recorder
3-day commercial plots auction: CDA generates revenue of over Rs17.14bn on first day
ISLAMABAD: Capital Development Authority (CDA) successfully conducted the first day of its three-day commercial plots auction, generating a record-breaking revenue of over Rs17.14 billion. The auction is being personally supervised by CDA Chairman and Chief Commissioner Islamabad, Mohammad Ali Randhawa. Among the top bids on the first day: (1) Plot No 13, Blue Area (G-8) fetched the highest bid of approximately Rs7.24 billion; (2)Plot No 14, Blue Area (G-8) was sold for around Rs4.16 billion; (3) Plot No 12, Blue Area (G-8) went for nearly Rs3.60 billion; (4) Plot No 3-A, I-14 Markaz fetched Rs749.32 million; (5) Plot No 3-B, I-14 Markaz was auctioned for Rs709.32 million; (6) Plot No 10-A, I-14 Markaz sold for Rs669.32 million. The open auction, taking place from July 15 to 17, includes 46 commercial plots and shops across prime sectors of Islamabad, including Blue Area and various Markaz centres. The auction also features commercial shops in a Blue Area parking plaza. The auction has witnessed enthusiastic participation from investors, reflecting strong market confidence in CDA's investment-friendly initiatives. All plots are being offered through open bidding in a transparent manner, with multiple categories of commercial properties available. In line with Randhawa's vision, senior CDA officials, including Member Estate Talat Mehmood, Member Finance Tahir Naeem, Member Engineering Syed Naffasat Raza, and Member Planning Dr Khalid Hafeez, are personally overseeing the auction proceedings. Additionally, a high-level committee headed by Member Finance Tahir Naeem has been formed, which includes DG Resource, DG Building Control, DG Law, and other senior officers. To further engage the business community, CDA is also hosting an Investment Expo at Jinnah Convention Centre, featuring booths by the Environment Wing, MCI, and Sports and Culture Directorate. Randhawa emphasised full facilitation of investors and directed that all possible services be extended. Investor-friendly incentives include a five per cent discount for full lump-sum payments made within one month, with an additional five per cent discount offered for payments made in US dollars. 'The proceeds from this auction will be utilized for the development of Islamabad, including sector infrastructure, road improvement, and beautification,' stated Randhawa, adding the ultimate goal is to make Islamabad a model and exemplary city. Copyright Business Recorder, 2025
Time of India
26-05-2025
- Time of India
DGP orders probe into Rs2.90cr cyber fraud at CDCC Bank
Chandrapur: The Maharashtra director general of police (DGP) has ordered a detailed probe into the Rs2.93 crore cyber fraud in the Chandrapur District Central Cooperative (CDCC) Bank. The cyber heist came to light in February when CDCC Bank officials detected 33 unauthorised transactions routed through Yes Bank's Nagpur branch. Between February 7 and 10, cybercriminals diverted over Rs3.60 crore through a series of fraudulent RTGS transactions. Initial recovery efforts by the district police's cyber cell resulted in the retrieval of Rs90 lakh, but the remaining Rs2.93 crore remains untraced. Chandrapur MLA Kishor Jorgewar sent a memorandum to the DGP, seeking a high-level forensic probe and the immediate registration of criminal cases against all individuals involved in the scam. Jorgewar alleged involvement of senior bank officials, including the chairman, chief executive officer, IT chief, a computer assistant, and the cybersecurity vendor. The MLA also accused the bank of failing to implement adequate safeguards despite spending nearly Rs 100 crore on cybersecurity systems. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like CFDco IA: gana hasta $2,700 a la semana trabajando desde casa Digital Group Prueba ahora Undo "Shockingly, the bank neither had cyber insurance coverage nor followed proper legal channels when refunding the affected customers using its profits," he alleged. Criticising the bank's internal forensic audit as 'incomplete and misleading,' Jorgewar demanded that an independent cyber forensic team reassess the incident. He also pressed for the formation of a Special Investigation Team (SIT). Taking serious cognisance of these developments, the DGP has directed Chandrapur SP to initiate a comprehensive investigation and file criminal cases as required. Sources said the inquiry will delve into the technical loopholes, the bank's alleged procedural violations, and the possible complicity of insiders.
