Suits & Sayings: Lobby Trouble

As the demolition squad moves against alleged unauthorised alterations at this tony Mumbai residential project, one apartment owner caught in the crosshairs is the MD and CEO of the real estate arm of a reputed business group with interests in automobiles. After buying the luxury pad from a rival developer, the executive is said to have incorporated part of the common lobby into a larger living room. Could the courts offer relief? Realtor circles are not particularly optimistic. The sale agreements apparently do not include the lobby in the area conveyed to buyers. The civic body appears to have acted on that basis, while the developer seems to have protected its position through carefully drafted sale deeds. The episode has nevertheless raised eyebrows in industry circles, given that the person in the dock is a senior executive of a realty firm that wears its values prominently on its sleeve.

(For more on our weekly roundup of wackiest whispers and murmurs in corporate corridors & policy parlours, pick up today's edition of The Economic Times newspaper)