One Indiabulls Sector 104, Gurgaon

A complaint was filed by a home buyer against Indiabulls and Selene Constructions regarding a 4 BHK flat in Centrum Park, Sector 103, Gurugram, concerning issues with the subvention scheme and extra charges. The complainant stated that they had booked a flat in Centrum Park, Sector 103, Gurugram, and had paid ₹1,16,70,725 against the total property cost of ₹1,13,74,845.62 and sought a refund of the extra amount charged.

Indiabulls Housing Finance Ltd reported that Gurgaon police uncovered a blackmailing operation run by lawyers Kislay Panday and Ram Mani, operating under Managium Juris LLP, who were sending malicious complaints to various departments to extort money from Indiabulls. The court issued non-bailable arrest warrants against the father-son duo, who were absconding. The investigation stemmed from a complaint filed by Vikash Shekhar against Indiabulls.

Indiabulls Housing Finance Ltd (IHFL) moved the Supreme Court, seeking urgent listing of a plea filed against it, in which it has been alleged that the company misappropriated Rs 98,000 crores of public money. A petition filed in the Supreme Court on June 10, 2019, alleged that money worth thousands of crores were siphoned off by Indiabulls Housing Finance Limited (IHFL) chairman Sameer Gehlaut and the directors of Indiabulls, for their personal use.

A customer reported that they bought 3 flats in Baroda dove deck in 2016, still not getting possession and builder want remaking money I have paid 80% of amount. There is no guarantee even if I pay remaining of amount they will give me possession.

The National Company Law Tribunal (NCLT) ordered insolvency proceedings against media baron Subhash Chandra on a plea filed by Indiabulls Housing Finance. The case was regarding a loan given to Essel group firm Vivek Infracon Ltd, for which Chandra was a guarantor.

A complaint was filed with Haryana Real Estate Regulatory Authority, Gurugram, by a customer seeking a refund of Rs. 25,80,867/- along with interest from the date of payment till the date of actual receipt. The customer stated that they had waited for 12 years from the date of booking despite paying all the instalment's.

The National Company Law Appellate Tribunal (NCLAT) overturned the National Company Law Tribunal (NCLT)'s decision to interfere with the scheme between Indiabulls Real Estate Limited, NAM Estates, and Embassy One. The Tribunal found the Discounted Cash Flow method used for share valuation credible and noted that the scheme had no objections from major regulatory bodies.

The appellate tribunal NCLAT has sanctioned the scheme of amalgamation to merge Indiabulls Real Estate (IBREL) and Embassy Group after setting aside the NCLT order stalling the process. The merger was on hold for the last 18 months, as the Chandigarh bench of the NCLT had withheld its permission in May 2023, despite all regulatory clearances from the CCI, bourses, RoC and approval from respective shareholders and creditors.

Indiabulls Estate & Club is under construction in Sector 104, Gurgaon, with possession expected by December 2030. The RERA-registered project spans approximately 17 acres and features 44 floors with only three units per floor. The project includes a domed clubhouse with indoor games, a juice bar, massage rooms, and a swimming pool.

The Haryana Real Estate Regulatory Authority, Gurugram through its Secretary, New PWD Rest House Civil Lines,. Gurugram, Haryana122001, case was subject-matter of examination by this Tribunal in Appeal Nos. 500 and 504 of 2022. It found that the order dated 31.05. 2022 had been passed after Vijay Kumar Goyal, a Member of the Authority, directed the office to initiate action in view of the violations pointed out in the audit report.

Indiabulls launched a new project in Sector 104, Gurgaon, offering apartments with prices starting at ₹13,000 per square foot, plus PLC and GST. The project features a 60,000 square foot clubhouse with amenities, and the builder is taking Expressions of Interest (EOI) with a check of ₹1 lakh.

A Gurgaon real estate developer faces insolvency proceedings after the National Company Law Tribunal admitted the case due to a default of Rs 274 crore. IDBI Trusteeship Services filed the application on behalf of debenture holders. The court has appointed an interim resolution professional to manage the process.