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Builder liable for giving possession without occupancy certificate: NCDRC
The National Consumer Disputes Redressal Commission (NCDRC) has held Faridabad-based Hamilton Heights liable for deficiency in service and unfair trade practice for handing over possession of a flat without securing the occupancy certificate (OC). The case underscores the need for buyers to ensure the OC is obtained before taking possession.
What is an occupancy certificate?
An occupancy certificate (OC), issued by the planning authority, confirms that a building complies with approved plans. In Gurugram, for instance, it is issued by the Department of Town and Country Planning (DTCP) or the Municipal Corporation of Gurugram.
'For homebuyers, it serves as proof that

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Business Standard
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- Business Standard
GEF Capital Partners sells 5.55% stake in Premier Energies for ₹2,629 cr
GEF Capital Partners on Tuesday divested a 5.55 per cent stake in Premier Energies for Rs 2,629 crore through open market transactions. Premier Energies Ltd (PEL) is among the largest integrated manufacturers of solar photovoltaic cells and modules (in terms of installed capacity) and specialty solar photovoltaic products in India. US-based GEF Capital Partners through its affiliate South Asia Growth Fund II Holdings LLC sold a total of 2.5 crore equity shares, representing a 5.55 per cent stake in Premier Energies Ltd, as per the bulk deal data available with the NSE. The transaction, valued at around Rs 2,629 crore, was executed at an average price of Rs 1,051.60 per share. Following the stake sale, the shareholding of South Asia Growth Fund II Holdings in Premier Energies declined to 5.55 per cent from 11.10 per cent. Meanwhile, Quant Mutual Fund bought 43.55 lakh shares, amounting to a 0.97 per cent stake in Premier Energies. Also, Premji Invest's arm PI Opportunities AIF V purchased 33.28 lakh scrips or 0.74 per cent holding in Hyderabad-based Premier Energies. The shares were acquired at the same price, taking the combined deal value to Rs 808.02 crore. Details of the other buyers of Premier Energies' shares could not be ascertained on the National Stock Exchange (NSE). Shares of Premier Energies rose 1.94 per cent to close at Rs 1,082.80 apiece on the NSE. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)


Time of India
44 minutes ago
- Time of India
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Time of India
an hour ago
- Time of India
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