The Centre told the Supreme Court on Thursday that a mechanism had been put in place to check diversion of funds by builders. Additional solicitor general Madhavi Divan said it was now mandatory for real estate companies to deposit 70% of the money raised from homebuyers in a separate bank account which would be used only for construction and builders would not be able divert the money.from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2Y5ZhnJ
