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Telangana land scam: Google, Microsoft, domestic companies affected by unclear land titles

Telangana land scam: Google, Microsoft, domestic companies affected by unclear land titles

Investors are buying land only from government or business houses because they do not have clear titles.

Telangana scam land: Google, Microsoft, domestic companies affected by unclear deeds

Major global companies such as Google and Microsoft are not sure of the value of their real estate in Hyderabad after the Telangana government has launched several legal cases on questionant ownership and transfer of ownership of land in what is assumed Which is a Rs 15 billion rupee scam, an Economic Times statement on Monday.

After opposition pressure, the Telangana government announced the termination of suspicious land records in the city. Investors are now affected by unclear titles in Hyderabad include Google, Microsoft, Tishman Speyer, Shapoorji Pallonji, DLF, Lanco, Puravankara, Salarpuria Sattva and my group.

“It’s time for the government to reconsider and examine all existing procedures and implement open-source banks for investors,” said Veera Babu, CEO of commercial real estate company Cushman & Wakefield. Bijay Agarwal, MD, Salarpuria Sattva Group, said that investors absolved motives that government or business houses, as these values ​​are clear.

In the latest land scam, defendants colluded with land registry agents to acquire hundreds of acres of disputed land in Miyapur Hyderabad and other localities. In addition, senior Telangana Rashtra Samiti are accused in the scam. PS Prasad, a former lawyer for the group of Cyrus Inversiones Shapoorji Pallonji, helped the group to obtain some assets. Secretary-General K Keshava Rao TRS, whose family acquired disputed land from the Prasad trading companies, announced last week that he was leaving the matter after sustained pressure from the opposition.

The government issued a TRS order last week the cancellation of certain powers of officials of the land registry department. But Congressional opposition, Bharatiya Janata Party and Telugu Party Desam claimed that the land that the government at least Rs 1 lakh million rupees in Hyderabad have been invaded during the three-year TRS rule. IT Minister and Telangana industries KT Rama Rao, son of Prime Minister K Chandrasekhar Rao, said the government was ready to contact investors to alleviate their concerns.

But the latest scam on earth could affect short-term investment in the Telangana market, a world real estate adviser said. The real estate market in Hyderabad has been rising since 2014, but now this could change due to land scams.

Biocon's Breast Cancer Biosimilar Gets USFDA Panel Nod, Shares Surge

Biocon’s Breast Cancer Biosimilar Gets USFDA Panel Nod, Shares Surge

Biocon’s Breast Cancer Biosimilar Gets USFDA Panel Nod, Shares Surge

The older Mylan and Biocon drugs, said today that the Advisory Committee on Cancer Medicines (ODAC) of the United States Health Authority approval of trastuzumab biosimilar proposal recommended, indicated for the treatment of breast cancer.

In a filing with regulators, Biocon said the committee had voted 16-0 in support of eligible indications of the reference product.

“This vote is the first biosimilar trastuzumab proposal recommended by the committee,” he added.

Regarding development, Mylan President Rajiv Malik said: “We are delighted with ODAC’s recommendation to support the approval of Mylan’s biosimilar trastuzumab to increase affordability, competition and, above all, global access and use” .

CEO and CEO of Biocon joint Arun Chandavarkar, said: “We look forward to working with the FDA to obtain final approval to expand access to the affordable and high-quality treatment option for HER2 positive breast cancer.”

The two companies, in a joint statement, said the US Food and Drug Administration uses committees and charts to obtain advice from independent experts on various topics including product approval.

“The FDA generally follows the advice of ODAC to determine if a product should come on the market, even though they are not required to continue,” they added.

The biosimilar trastuzumab proposed by Mylan and Biocon is also under review by regulatory authorities in Australia, Canada, Europe and several emerging markets.

Biocon shares rose 8.19% compared to Rs. 396,70 each on BSE.