9 November SGM: Legal Due Diligence, Collector’s Demand and DCPR Decision

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Members approved legal due diligence, Collector payments and RMT changes while keeping both DCPR options open.

The Special General Body Meeting held on 9 November 2025 addressed legal, financial and regulatory matters connected with the redevelopment.

The General Body ratified the appointment of CubicTree to provide case-history information relating to Keystone Realtors and authorised the Managing Committee to appoint an independent advocate or law firm to prepare a detailed legal due diligence report.

Members also approved payment of approximately ₹25–30 lakh towards the Collector’s outstanding demand relating to the commercial premises. The payment was considered important for removing an obstacle to the conversion of the society’s land to freehold.

A change in the constitution of the Redevelopment Management Team was also noted, with Mahesh Vyas filling the vacancy created by Ajit Rai's resignation from the RMT.

One of the most debated subjects was the redevelopment regulation. Members discussed 33(11) and 33(7)(B) + 33(20)(B) and whether the regulation should be finalised before or together with the developer selection. Since the shortlisted developers were offering different regulatory options, the resolution to select a specific regulation was ultimately dropped.

The meeting therefore kept both options open while the developer selection process continued. The society's website was also announced as being ready to go live.