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Old November 27th, 2010, 05:42 PM   #861
Soroban
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PNB-builder nexus seems to run deeper

S. P. S. Pannu
New Delhi, November 27, 2010


Punjab National Bank (PNB), which has landed in trouble in the bribes-for-loans scam has a deeper nexus with builders as it had also extended a Rs 50- crore bank guarantee to Swan Telecom for getting 2G spectrum at a throwaway price from disgraced former telecom minister A. Raja.

Official documents accessed by Mail Today reveal that in November, 2007, PNB had given a one- year bank guarantee of Rs 50 crore to Swan Telecom, promoted by DB Realty (India Tower). The firm figures in the loan racket busted by CBI. DB Realty promoted by Shahid Balwa and Vinod Goenka, who are considered close to a Maharashtra politician, had bagged the 2G license despite being ineligible to enter the telecom business. Shortly after picking up the 2G spectrum at a dirt cheap price, it had sold a 45 per cent stake to Etisalat to rake in a huge profit. The name of Swan Telecom was then changed to Etisalat DB Telecom.

While the public sector banks have taken the stand that the bribes- for- loans scam involving the LIC Housing Finance and PNB is limited to a few individuals, the Centre has decided to take a closer look at loans sanctioned to builders to check whether fraudulent practices are widespread in the system.

Finance minister (FM) Pranab Mukherjee has asked banks and financial institutions, which have exposure to firms involved in the recent housing finance racket, to ensure that investor money is safe.

"I have already instructed banking and financial institutions to look into all these issues and they should ensure that institutions' money is saved," Mukherjee said.

Among the companies named by CBI are financial services firm Money Matters, DB Realty, Pashmina Ltd, Mantri Realty, Sigrun Ltd, Entertainment World and Indore City Treasures. CBI has also issued notices to 21 companies to provide all the documents related to the case and explain any benefits received by them as also favours extended to the accused persons.


http://indiatoday.intoday.in/site/St...un-deeper.html
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Old November 27th, 2010, 10:25 PM   #862
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DB is a bit shady company with multiple cross holdings and political connections , hopefully it will get out of it as the numbers here are not so big and it has already got a huge profit by paying the 2G spectrum to etisalat ...

Let's hope for the best !!
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Old November 27th, 2010, 11:39 PM   #863
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updates anyone?
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Old November 27th, 2010, 11:48 PM   #864
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which is its final design??
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Old November 28th, 2010, 12:30 AM   #865
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Go to Page 1 boss.
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Old November 29th, 2010, 08:46 AM   #866
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Quote:
Originally Posted by kix111 View Post
Oh wow, alright hows that, i went back 9 pages. If that makes any difference to you.

And /corrected, i wont be rude here, please think twice before posting.
Obviously one page does indeed make a difference.

You are right, should be "less", my mistake but if you don't want to be rude then why were you? You could have just stopped at the correction and left the "think twice" comment to yourself. Either way, you got my point that the result would be different if your posts/page setting is different.
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Old November 29th, 2010, 04:29 PM   #867
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It goes without saying that DB Realty have garnered very negative publicity in the last few weeks, as a direct result of its assumed previous and numerous financial misdemeanors. A link in this connection sheds additional light on the alleged reprehensible activities of DB Realty with irrefutable bearing on the current project of India Tower.

http://www.geekabout.com/2007-12-31-...the-world.html
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Old November 29th, 2010, 06:17 PM   #868
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Quote:
Originally Posted by Marathaman View Post
More like the proof of the arrival of unrestrained global capitalism in India.
And India's inability to handle it.

The murky way in which some real estate companies in India bribed their way into obtaining bank loans has severely jeopardized their ability to finish whichever big ticket projects they were working on (which in any case would be extremely exorbitant apartments).

I expect this project to go into cold storage till either it is sold off to another builder or DB clears its name.
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Old November 29th, 2010, 07:06 PM   #869
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Quote:
Originally Posted by sodapop_19 View Post
updates anyone?
I have taken some a fews days back, but unable to upload them right now

Will upload as soon as possible!

btw, work is progresing well. Lots of workers everywhere, equipment, trucks coming in and out of site, that small crane is always on the move.
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Old November 30th, 2010, 08:10 AM   #870
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As promised. The sun was setting right infront of me, so most pics are not really clear. I might be able to head down there again.



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[IMG]http://i51.************/2rd9jk4.jpg[/IMG]

[IMG]http://i53.************/28mha9y.jpg[/IMG]

[IMG]http://i56.************/jtou8o.jpg[/IMG]
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Old November 30th, 2010, 08:17 AM   #871
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Thank you India 101 .
This is amazing !! The site is huge and looks like work is going on pretty well !!

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Old November 30th, 2010, 08:20 AM   #872
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Fantastic shots! Thanks so much. Definetly a lot of work going on.
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Old November 30th, 2010, 08:22 AM   #873
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November 25
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Old November 30th, 2010, 08:22 AM   #874
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judging by the stairs one could guess the basement is 6-7 stories deep

and is that an ad for a theatre performance in the last pic?!?
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Old November 30th, 2010, 08:31 AM   #875
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Quote:
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judging by the stairs one could guess the basement is 6-7 stories deep
Maybe even deeper. That is by far the largest hole I've ever seen...
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Old November 30th, 2010, 08:48 AM   #876
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Ok, but where is the Mysterious Third Wing? Up to now everybody told us that just two of the wings are visible on the pics, but from the India's recent pictures it seems that not only there is no proportional third wing but there is no even space for it because of the fence on the way I pointed it on the picture.



I hope it has some explonation because I love that desing..
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Old November 30th, 2010, 08:56 AM   #877
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The building is actually not that close to the fence, the 3 cores seem to be further in site, in the middle of the podium.

Quote:
Originally Posted by Soroban View Post
"L" is the podium.

image hosted on flickr


image hosted on flickr
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Old November 30th, 2010, 09:25 AM   #878
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Thanks for the update India101.

Quote:
Originally Posted by patrykus View Post
Ok, but where is the Mysterious Third Wing? Up to now everybody told us that just two of the wings are visible on the pics, but from the India's recent pictures it seems that not only there is no proportional third wing but there is no even space for it because of the fence on the way I pointed it on the picture.
Maybe this will help.

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Old November 30th, 2010, 09:36 AM   #879
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so it looks like this building will be pretty lonely when (if?) it gets built :o
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Old November 30th, 2010, 09:53 AM   #880
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Thanks for the update India101.




Maybe this will help.
It helped indeed It's funny though, that this site in some places is much bigger than the footprint of the tower and in others is just to fit..
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