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Prestige Group plans Rs 3,500 cr investment for office space in Mumbai
The new industrial improvement, a standalone floor plus 63 storey and a 43-floor status Liberty Tower property, would be the tallest office property in the nation. The proposed 2.5 million sq ft property, which is scheduled to be accomplished by 2025, can have 400,000 sq ft of facilities space and enterprise membership together with a viewing gallery on the highest flooring. “Construction finance for both the projects has been tied up, and we are seeing strong demand for some large requirements,” mentioned Juggy Marwaha, CEO, Prestige Office Ventures.
The proposed funding is without doubt one of the largest for industrial actual property improvement in Mumbai in current instances. “The properties are already attracting occupiers from the banking, financial services and insurance (BFSI), information technology and IT-enabled services and startups,” mentioned Marwaha. Prestige Estates Projects, via its subsidiary Prestige Falcon Realty Ventures, invested via capital account contribution in Turf Estate Joint Venture LLP on March 24, 2020 as a brand new companion in the LLP with equal share of revenue and losses with DB Realty topic to phrases and situations, as contained in the supplemental settlement dated March 24 this 12 months.
Marwaha mentioned the pandemic has led to change in buyer demand and following that cue, the corporate has deliberate each the industrial initiatives that are focussed on know-how, well being and issues of safety with optimistic social, environmental and financial influence. (*7*) he mentioned. In 2019, Prestige Group had picked up a 28.99% stake in the industrial improvement of DB Realty’s industrial property in BKC. In a inventory alternate announcement, DB Realty had then mentioned that the corporate acquired the whole redeemable optionally convertible cumulative desire shares and compulsorily convertible desire shares of DB BKC, about 9.18% of complete share capital of DB BKC, being held by Trinity Capital (Ten) Ltd. Mauritius on the phrases and situations agreed upon. Following the acquisition of the shares by the developer, the whole shareholding of the corporate in DB BKC elevated to 66.35% of complete share capital of DB BKC. Earlier this 12 months, the Bengaluru-headquartered agency retired its debt by concluding a $1.5 billion sale of business portfolio, together with workplaces, retail malls and resorts to Blackstone. The deal additionally noticed Blackstone buying over 16.8 million sq ft of accomplished and under-construction office initiatives and retail malls, aside from hospitality property and solar energy crops.
News Source : Construction World
Music
Korean soloist IU sues ex-classmate and 180 others over online harassment, deepfakes, and slander
IU’s agency, EDAM, reports ongoing court proceedings and additional charges as they address severe online threats against her.
Korean singer-songwriter IU, also known as Lee Ji Eun, has taken decisive legal action against over 180 individuals involved in cyberbullying. These legal proceedings, initiated in 2023, are ongoing, with some cases already reaching the formal court hearing stage, according to the recent update from the agency.
The accusations against these individuals range from severe harassment, including threats and defamation, to the creation and distribution of harmful deepfake content. IU’s agency has cited the gravity of these offenses, which they believe meet the criteria for criminal charges
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IU files legal lawsuit against 180 individuals over cyber bullying
K-pop idols and celebrities frequently face online harassment, often seen as the darker side of fandom culture. In some cases, cyberstalking escalates to the point where idols are subjected to physical threats. On November 11 (KST), EDAM issued a statement announcing they had filed complaints citing severe harassment cases.
“Our agency, in collaboration with a law firm, has filed complaints targeting those who have engaged in criminal acts, including threats, defamation, malicious false accusations of plagiarism, death threats, privacy violations, sexual harassment, distribution of obscene content, creation and distribution of illegal deepfake materials and other illegal activities,” EDAM ent said in an official statement according to the Korea Times.
IU sues ex-classmate for cyber bullying
According to insiders, in addition to the 180 lawsuits already filed, more charges are lined up. One individual accused in the case also involves the singer’s former classmate. “Among them, there is one individual who is presumed to be a middle school classmate of IU. Despite the ongoing case, it has been found that they continue to harass IU. So, we are responding,” EDAM said.
The case which grabbed a lot of limelight back in 2023 resulted in a major controversy and has so far resulted in six fines, three cases with mandatory education, and one case with probation, according to the agency. Among these cases are accusations from April and May last year, where the singer was targeted with baseless claims of plagiarism.
EDAM also highlighted a particular case where IU faced serious online harassment, including false rumors, sexual harassment, and death threats. Prosecutors have requested a fine of 3 million won (about $2,240) for the person involved. The individual is reportedly appealing the sentence, with a formal trial yet to take place.
EDAM revealed that it has collaborated with “relevant” sources to track individuals using foreign IP addresses or living abroad in attempts to avoid legal trouble. In one case, a suspect accused IU of espionage, claiming she was a spy. However, progress has been delayed as the suspect has continually refused to appear for questioning. This case has now been handed over to the prosecution for further investigation.
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