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In Big Win For Homebuyers, Top Court Okays 22 Police Cases Against Builders

The Central Bureau of Investigation has received green signal from the Supreme Court to file 22 cases involving the nexus between the banks and developers to dupe homebuyers in National Capital region. The cases can involve prominent builders in the zone. The agency has also sought more time to investigate builders of other cities. Additional Solicitor General Aishwarya Bhati, appearing for CBI, told the bench of Justices Suryakant and N Koteshwar Singh that more time is needed to complete the investigation. The bench gave it six weeks, expressing satisfaction over the investigation done by CBI. The court was hearing a batch of petitions filed by over 1,200 homebuyers, who booked flats under subvention plans in various housing projects in the NCR. They have alleged that the banks are forcing them to pay EMIs even though they have not received possession of flats. Under the subvention scheme, banks disburse the sanctioned amount directly to the accounts of builders. They pay EMIs unt...
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Elon Musk Reclaims The Title Of World's Richest Person

Elon Musk has reclaimed his title as the world's richest person, according to Bloomberg Billionaires Index. 

In December last year, Bernard Arnault, CEO of the French luxury brand Louis Vuitton, dethroned the Tesla and Twitter CEO from the top rank. Mr Musk was at the second spot for more than two months. According to Bloomberg, a surge in Tesla stock has sent Mr Musk back to the top of the Billionaires Index.

According to the estimates, as of Monday, after the markets closed, Mr Musk's net worth was approximately $187.1 billion, surpassing Mr Arnault's $185.3 billion fortune.

However, Tesla chief's net worth fell by over $200 billion between November and December last year, which was regarded as one of the largest losses of wealth in recent history.

Also Read: "Hard Work Was A Mistake": Twitter Employee After Being Fired

The rapid decrease in the value of Tesla shares at the time caused the sudden crash. The company had its worst year ever on Wall Street last year, losing $700 billion because of investor apprehensions regarding the effects of Covid-19 in China and Mr Musk's contentious takeover of Twitter.

Amid all this, the Twitter CEO is making cost cuts at his newly acquired company for which he spent $44 billion. He had tweeted in November that the microblogging site was losing nearly $4 million a day. 

Recently, Twitter announced its eighth round of layoffs and more than 50 people were fired by Mr Musk-led administration. This comes after the billionaire cut more than 3,700 jobs at Twitter or half of the company's workforce, a move to drive down costs following his acquisition.



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