logo
Bribery allegations: UPRERA sacks 12 employees

Bribery allegations: UPRERA sacks 12 employees

Time of India30-04-2025

Lucknow: The Uttar Pradesh Real Estate Regulatory Authority announced on Tuesday dismissal of 12 members of staff on various positions, citing integrity concerns, whilst implementing enhanced internal monitoring measures. The announcement follows recent arrest of a
UPRERA
accountant by an
anti-corruption bureau
team, following a homebuyer's complaint in Greater Noida regarding
bribery allegations
.
UPRERA chairman
Sanjay Bhoosreddy
confirmed the implementation of rigorous internal surveillance systems to ensure staff accountability and transparency. The authority now requires "an affidavit of integrity" from all personnel.
The dismissed staff included three junior engineers, one assistant accountant, four computer operators, one help desk employee and one peon and action was taken at both, Lucknow headquarters and Greater Noida's NCR regional office. To enhance security measures, the authority installed CCTV cameras across RERA offices, with senior officers monitoring staff and visitor movements. Additionally, one case has been forwarded to the Uttar Pradesh Bar Council under the Advocates Act, 1961, demonstrating their strict stance against misconduct.
Established in 2017 for homebuyer protection, UP RERA operates with a minimal workforce, maintaining effectiveness through regular training and performance assessment protocols.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

High temperatures take toll on realty, project timelines, impact workers
High temperatures take toll on realty, project timelines, impact workers

Business Standard

time2 days ago

  • Business Standard

High temperatures take toll on realty, project timelines, impact workers

Realty & construction cos taking tactical measures: Heatwave training, on-site housing, new tech and more Sanket Koul Gulveen Aulakh New Delhi Listen to This Article As the India Meteorological Department (IMD) issued a heatwave alert with temperatures expected to soar past 44°C in several parts of the country, real estate developers are bracing for significant project delays caused by labour shortages and a sharp dip in productivity. 'Extreme heat conditions often result in shortage of construction labour, decreased productivity, and faster degradation of construction materials. Worker deficits in some regions can range from 20 per cent to 50 per cent,' said Santhosh Kumar, vice-chairman at Anarock group. Anoop Garg, director at Delhi NCR-based Uninav Developers, echoed Kumar's concerns. 'Prolonged exposure to extreme heat puts daily

Shares of Eternal, Swiggy drop as Rapido undercuts food delivery commission
Shares of Eternal, Swiggy drop as Rapido undercuts food delivery commission

Time of India

time4 days ago

  • Time of India

Shares of Eternal, Swiggy drop as Rapido undercuts food delivery commission

Shares of Zomato parent Eternal and its rival Swiggy dropped as much as 2.5% and 4% on Monday following an ET report that Rapido is planning to launch its food delivery services this month by charging significantly lower commissions to restaurants than the two large players. Eternal shares closed 1.9% lower on the BSE at Rs 256.99 per share, after hitting an intraday low of Rs 255.35. Swiggy ended the day's trade 2.8% lower at Rs 364 a share, falling to Rs 360.10 apiece earlier in the day. The benchmark Sensex closed 0.31% higher at 82,445.21. According to the agreed-upon terms with the industry body National Restaurants Association of India (NRAI), Rapido will charge a flat commission of Rs 25 for all orders below Rs 400 and Rs 50 for orders worth more than Rs 400. This translates to 8–15% commission from restaurants, compared to 16–30% that Zomato and Swiggy charge, as ET reported. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like The Top 25 Most Beautiful Women In The World Articles Vally Undo Rapido's food delivery launch comes at a time when restaurants have been increasingly flagging issues of 'steep charges' levied by Zomato and Swiggy. "Zomato is becoming unsustainable for small restaurant owners like us," Vandit Malik, founder of The Garlic Bread, wrote on LinkedIn three weeks back. "To even be visible on the platform, I'm forced to spend Rs 30+ per order on ads. What's left? Pennies. Sometimes, not even that," he alleged. The owners of another NCR-based small restaurant, Saffroma, wrote on X last week, which went viral, that it was quitting Zomato, alleging "zero payouts, mystery service charges and advertisements initiated without approval." The post has since been deleted. Live Events Food delivery outlook Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories India's online food delivery market is expected to more than double to $15 billion by March 2029, according to a December 18 report by JM Financial . Platforms had penetrated only about 11% of the country's total food consumption in 2023, compared with 40% in China and 58% in the US, it said. In a note dated June 2, brokerage firm Morgan Stanley said that online food delivery penetration in India is still in the early stages at around 14% against the 19-21% range for markets such as the US and China, "implying a long runway for growth'. It kept its target price for Eternal's stock at Rs 320 per share, implying a potential upside of 24.5% from the stock's current price. Initiating coverage on Swiggy earlier this month, the brokerage firm pegged its target price for the stock at Rs 405 per share, marking a potential upside of 11.3%. Swiggy's food marketplace CEO Rohit Kapoor, in an interview with ET this month, said that there was a need for a greater level of dialogue between restaurants and aggregators over issues such as platform commissions, but pointed out that the architecture of economics has changed over time. Swiggy is an investor in Rapido.

Eternal, Swiggy drop as Rapido undercuts food delivery commission
Eternal, Swiggy drop as Rapido undercuts food delivery commission

Time of India

time4 days ago

  • Time of India

Eternal, Swiggy drop as Rapido undercuts food delivery commission

Shares of Zomato parent Eternal and its duopolistic rival Swiggy dropped as much as 2.5% and 4% on Monday as Rapido undercut them in commissions levied from restaurants. The unlisted ride-hailing platform is looking to foray in the food delivery space. Eternal shares closed 1.86% lower on BSE at Rs 256.99 per share, after hitting an intraday low of Rs 255.35. Prosus-backed Swiggy ended the day's trade 2.79% lower at Rs 364 a share, falling to Rs 360.10 apiece earlier in the day. The benchmark Sensex closed 0.31% higher at 82,445.21. The drop in shares comes after Rapido began partnerships with restaurants for its online food delivery service at nearly 50% lower commissions than Swiggy and Zomato. According to the agreed-upon terms with the industry body National Restaurants Association of India (NRAI), Rapido will charge a flat commission of Rs 25 for all orders below Rs 400, and Rs 50 for orders worth more than Rs 400. This translates to 8–15% of commission from restaurants, compared to 16–30% that Zomato and Swiggy charge, as ET reported. Recent months have seen multiple small restaurant owners calling out what they alleged are "steep charges" levied by Zomato and Swiggy. "Zomato is becoming unsustainable for small restaurant owners like us," Vandit Malik, founder of The Garlic Bread, wrote on LinkedIn three weeks back. "To even be visible on the platform, I'm forced to spend Rs 30+ per order on ads. What's left? Pennies. Sometimes, not even that," he alleged. The owners of another NCR-based small restaurant, Saffroma, wrote on X last week, which went viral, that it was quitting Zomato, alleging "zero payouts, mystery service charges and advertisements initiated without approval." The post has since been deleted. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Food delivery outlook India's online food delivery market is expected to more than double to $15 billion by March 2029, according to a December 18 report by JM Financial. Platforms had penetrated only about 11% of the country's total food consumption in 2023, compared with 40% in China and 58% in the US, it said. In a note dated June 2, Global financial services firm Morgan Stanley picked Deepinder Goyal-led Eternal as its top investment pick in the Indian food delivery sector, citing market leadership in both quick commerce and food delivery, healthy unit economics, stronger balance sheet than peers, and sound risk-reward. It kept its target price for Eternal 's stock at Rs 320 per share, implying a potential upside of 24.5% from the stock's current price. Initiating coverage on Swiggy earlier this month, the brokerage firm pegged its target price for the stock at Rs 405 per share, marking a potential upside of 11.3%.

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