Rea Group

Dhruv Agarwala, co-founder and CEO of PropTiger, will serve as CEO of the joint entity. Jason Kothari, CEO of Housing.com, has decided to move on to pursue other opportunities in the Indian internet space, the statement said.

What started off with the Supreme Court ruling as illegal an investor scheme by Sahara, has now escalated, with both the market regulator Securities and Exchange Board of India (SEBI) and, more recently, the Himachal Pradesh High Court asking the Enforcement Directorate whether there are charges of money laundering against the Lucknow-based group.

Blackstone Group LP is driving the migration of private equity money into India's commercial real estate after the global financial crisis cooled the country's once-ardent residential segment and the number of unsold new homes surged.

Dhruv Agarwala, co-founder and CEO of PropTiger, will serve as CEO of the joint entity. Jason Kothari, CEO of Housing.com, has decided to move on to pursue other opportunities in the Indian internet space, the statement said.

What started off with the Supreme Court ruling as illegal an investor scheme by Sahara, has now escalated, with both the market regulator Securities and Exchange Board of India (SEBI) and, more recently, the Himachal Pradesh High Court asking the Enforcement Directorate whether there are charges of money laundering against the Lucknow-based group.

Blackstone Group LP is driving the migration of private equity money into India's commercial real estate after the global financial crisis cooled the country's once-ardent residential segment and the number of unsold new homes surged.