logo
Notarisation of immovable property valued at Rs 100 and above banned in Indore

Notarisation of immovable property valued at Rs 100 and above banned in Indore

Time of India28-05-2025

Indore: In a significant move to curb fraudulent activities and safeguard citizens from property disputes, Indore district administration issued a prohibitory order on Wednesday.
This order bans the notarisation of immovable property valued at Rs 100 or more within the revenue limits of the Indore district.
The order, issued by collector Asheesh Singh under Section 163 (1)(2) of the Bharatiya Nagarik Suraksha Sanhita aims to prevent issues faced by the public due to irregular property transactions and to deter undesirable activities. According to the directive, any notary found to be in violation of this order will face action under Section 223 of the Bharatiya Nyaya Sanhita along with a recommendation for the cancellation of their notary licence and other legal proceedings.
This order will remain in effect from May 28, 2025, to July 25, 2025. All senior district registrars, district registrars, senior sub-registrars, sub-registrars, sub-divisional magistrates of Indore, executive magistrates, police station in-charges, and all senior police officials have been instructed to ensure strict compliance and implementation of this order.
The administration noted that it is a common practice for some persons to buy and sell immovable property based on notarised documents instead of proper registrations.
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Retraités : si votre mutuelle vous coute + de 67€/mois, essayez ceci tout de suite !
Meilleures Mutuelles
En savoir plus
Undo
This often traps unsuspecting and legally uninformed citizens, leading to fraud and subsequent hardship. Notarised documents for property transactions lack legal standing, creating unnecessary complications.
Many individuals invest their life savings or take loans to purchase immovable property and in an attempt to save money opt for notarised agreements instead of official registration. This not only results in revenue loss for the govt, but also fails to establish legal ownership for the buyer, as such documents have no legal existence. Furthermore, this practice contributes to proliferation of illegal colonies that lack basic infrastructure, leading to public unrest.
It also increases property ownership disputes, raising concerns about law and order.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Infosys Offers Cash Rewards For Senior Staff Conducting Lateral Hire Interviews
Infosys Offers Cash Rewards For Senior Staff Conducting Lateral Hire Interviews

News18

time40 minutes ago

  • News18

Infosys Offers Cash Rewards For Senior Staff Conducting Lateral Hire Interviews

Last Updated: Infosys has introduced a cash reward policy for senior employees conducting lateral hiring interviews, offering 700 points per interview. Infosys, India's second largest software company, has rolled out a new cash reward policy for senior employees who participate in interviews for lateral hiring, aimed at enhancing employee morale. Under this scheme, employees will earn 700 points (equivalent to Rs 700) for each interview they conduct. They can also claim incentives for interviews conducted over the past five months, as the program is effective from January 1, sources told ET. This is the first time Infosys has implemented such an incentive-driven initiative, according to ET report. However, the policy is limited to recruitment within India. The ET report states this move acknowledges the significant role employees play in the interview process, especially as the IT sector increasingly focuses on lateral hiring rather than campus recruitment. At Infosys, experienced tech professionals like track leads, architects, and project managers at job levels 5 and 6 (JL5 & JL6) typically conduct multiple rounds of interviews with candidates shortlisted by the talent acquisition team, before the candidates proceed to the HR round. IT giant Infosys discharged at least 195 trainees from a batch of 680 after they failed to pass internal assessment tests, according a report by MoneyControl citing company emails being reviewed by it. With the fresh exits, the total number of affected trainees have reached to 800 since February, marking the fourth round of exits. To support those affected, Infosys is providing free upskilling programs through NIIT and UpGrad. According to MoneyControl report, out of total affected trainees, 250 have enrolled in upskilling programme through Upgrad and NIIT and 150 trainees were registered for outplacement services. India's second-largest IT services company laid off approximately 240 employees on April. Previously, the firm had let go of over 300 trainees in February and an additional 30-35 in March. These layoffs are a response to the company's need to navigate a challenging demand environment. Infosys has projected a revenue growth of only 0 percent to 3 percent for the current fiscal year, highlighting ongoing uncertainty in its primary markets.

FDs, Senior Citizens, And Stock Market: Inside The Rs 4.58 Cr ICICI Bank Fraud
FDs, Senior Citizens, And Stock Market: Inside The Rs 4.58 Cr ICICI Bank Fraud

News18

time41 minutes ago

  • News18

FDs, Senior Citizens, And Stock Market: Inside The Rs 4.58 Cr ICICI Bank Fraud

Last Updated: A 26-year-old ICICI Bank manager in Kota, Rajasthan, was arrested for siphoning Rs 4.58 crore from senior citizens' FDs and loans between 2020 and 2023. ICICI Bank Fraud Case: Banks are considered one of the safest places to park your unused money when you don't need it. Fixed Deposit, a financial instrument of giving your money to banks in returns of fixed interest and the full amount after the tenure, is popular among Indians, especially millennials. FDs not only help to secure your money but also allow you to reduce the risk of inflation-beaten deduction of value. The illusion of safety can be broken into pieces if the entrusted employees of a big public lender bank have stolen your money parked in FDs. A shocking case has come to the spotlight where a bank manager of ICICI bank from Kota, Rajasthan was alleged to siphon off money from Senior Citizens' FDs and loans in a period of three years. A 26-year-old ICICI Bank relationship manager has been arrested for allegedly siphoning off Rs 4.58 crore from customers, mainly senior citizens, between 2020 and 2023. The fraud was uncovered by the bank's internal audit team, which alerted the branch manager, leading to a police FIR and her arrest on May 31, 2025. According to reports, the employee misused financial instruments like fixed deposits, overdrafts, and personal loans in customers' names without consent. She misused the digital naivety of the senior citizen's customers. The accused employee is reported to be used the stolen money in stock market. She used the platforms like ICICI Direct and Zerodha to trade in derivatives. The reports state that most of the customers who had been duped were seniors without any knowledge of digital banking. The employee reportedly concealed her tracks well, delaying detection. How the fraud unfolded (2020–2023): 1) Targeted Elderly Customers: The accused focused on senior citizens who had fixed deposits (FDs) and limited tech knowledge. 2) Misused Financial Products: Prematurely broke customers' FDs Created overdrafts (ODs) Took personal loans — all in customers' names, without their consent 3) Routed Funds to a Third-Party Account: She transferred the stolen funds to a third-party 'pool account" to avoid detection. 4) Traded in Stock Market: She used the stolen money to trade in derivatives (F&O) on platforms like ICICI Direct and Zerodha (Kite). 5) Covered Her Digital Tracks: She skillfully hid her online activity, making it hard for coworkers or managers to spot the fraud. 6) Audit Team Detected Irregularities: ICICI Bank's internal audit team uncovered the scam, leading to her suspension and arrest. About the Author Business Desk First Published: June 08, 2025, 09:57 IST

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store