India, March 2 -- In a dispute over redevelopment of its staff quarters at Samata Nagar in Kandivali, the Maharashtra State Financial Corporation (MSFC) has initiated legal action against developer SD Corporation and has also approached the Maharashtra Real Estate Regulatory Authority (MahaRERA) seeking action against the firm.

MSFC had appointed SD Corporation to redevelop its staff quarters in Kandivali on the condition that 40 flats would be handed over to the corporation. However, in 2019, it transpired that eight MSFC employees had allegedly received Rs.88 lakh from the developer towards rent and deposits. Additionally, four employees reportedly collected Rs.12.45 lakh in rent from MSFC. The developer is also said to have handed ove...