In February last year, Hirco had sued Hiranandani and his daughter in a lower court in the Isle of Man, alleging they had committed fraud and other misconduct prior to their resignation as chairman and CEO of Hirco in 2010.
From DLF to Hiranandani, Wadia to Raheja, Rustomjee to DB Realty, the list of developers who found themselves in the midst of legal tussles this year, is a substantial one. While some developers came under the scanner for allegedly exploiting vulnerable home buyers, others were hauled up for diverting their financier's loans.