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Donald Trump, Mukesh & Nita Ambani, Kalpesh Mehta & Pankaj Bansal: What’s the connection?
MUMBAI: When the incoming president of the US invites you, you definitely have to go. The pre-swearing in inaugural festivities thrown by the to-be -President Trump at an intimate gathering of friends and family at Trump National Sterling in Virginia saw a handful of Indians mark their presence. But those who really want to make a splash of it are two Indian real estate developers who are the Republican leader’s Indian partners in Trump Towers.
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We are referring to Tribeca Developers founder Kalpesh Mehta and M3M Developers managing director Pankaj Bansal who were seen hobnobbing with Trump and sharing a glass of bubbly with him. Both Mehta and Bansal are key partners in the development of Trump Towers in India, reflecting the strong ties between Indian business leaders and the Trump Organisation. Kalpesh Mehta, the licensed Indian partner for Trump Towers, has been instrumental in bringing the Trump brand to India. They were also seen cracking a few jokes with India’s richest couple – Mukesh and Nita Ambani. Mukeshbhai and Nitabhabi, apparently, took an overnighter on their private jet for a spin to Washington DC.
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Global leaders, including Amazon.com founder Jeff Bezos and other prominent business figures, were also in attendance.
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A nearly 20 minute firework display was watched by Trump and his wife Melania and his extended family from the balcony of his club.
Trump’s alleged excesses have already got critics carping about his proximity to several American billionaire friends of his who are getting crucial posts and others (one of them read crypto currency industry) who are handing out $250 million to the inauguration committee for spending on what is being called the most expensive inauguration (read party) of a president in history. Other presidents have reportedly spent less than $50 million (Obama) on their inauguration spending prior to Trump who spent a massive $107 million following his 2017 election victory.
With the Trump-baiters getting their knives out even before he has got into the White House, we wonder what they will come up with after he does. We can only wait and watch.
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Maharashtra panel orders Lodha to refund Rs 5 crore to homebuyers
Consumer court flags unfair practices in long-running property dispute case
MUMBAI: In a sharp rebuke to one of India’s biggest real estate players, the Maharashtra State Consumer Disputes Redressal Commission has directed Macrotech Developers to refund nearly Rs 5 crore to a senior citizen couple, Uttam and Anindita Chatterjee. The ruling, delivered on March 13, 2026, calls out the developer for “deficiency in service” and “unfair trade practices”, bringing closure to a dispute that has stretched over a decade.
The case traces back to 2015, when the couple booked a 3-BHK flat at World Towers in Lower Parel for Rs 12.22 crore, with possession promised within a year. What followed was a series of changes that complicated matters. After deciding to exit the project, they were persuaded to shift to a 4-BHK in another development priced at Rs 8 crore, with delivery scheduled for 2018. However, within months, the price was allegedly increased to Rs 10 crore. After demonetisation reshaped the market, similar flats were reportedly being offered at lower prices, but the couple were not given the benefit.
Despite paying over Rs 2.83 crore, the couple neither received possession nor clarity. Instead, in 2018, the developer unilaterally cancelled the booking, retained part of the amount as earnest money, and argued that the buyers were investors rather than consumers. The commission rejected this claim, observing that casual references to “investment” do not take away consumer rights when the purchase intent is residential.
The bench also held that the developer could not penalise buyers for payment delays while failing to meet its own delivery commitments. It noted the lack of formal documentation for revised terms and termed the prolonged retention of funds without delivering a home as exploitative.
As part of its order, the commission directed the developer to refund Rs 2.83 crore paid by the couple, along with interest at 10 per cent per annum, amounting to around Rs 2.12 crore. In addition, Rs 1 lakh has been awarded for mental agony and Rs 50,000 towards litigation costs, taking the total payout to over Rs 5 crore. The developer has been asked to comply within two months.
For now, the ruling serves as a reminder that in real estate, shifting terms and delayed promises can carry a significant cost.
