Reply to Legal Notice under Section 13(2) of SARFAESI Act, 2002 Pertaining to Subvention Scheme

The banks are aware of the builder’s liability to make all the payments to the bank according to the signed agreement among the bank, builder, and buyer. Therefore, the banks cannot chase or harass the buyers for payment of due amounts under the SARFASI Act, 2002.

How to handle legal notice for auction of the Real Estate Project

The banks have started issuing an auction notice in respect of real estate projects where the builder has defaulted by not completing the construction of the project. Here we are sharing some remedies for the aggrieved homebuyers.

EXAMINING WRONGFUL ARREST THROUGH LEGAL PROVISIONS

Unlawful or wrongful arrest in India represents a grave miscarriage of justice, where individuals are apprehended by Law enforcement without proper evidence or due process. It has been a persistent issue in India, that continues to plague the country’s criminal justice system.

Legal Remedies For Cheque Bounce

Cheque bounce is a criminal offence stipulated under Section 138 of the Negotiable Instruments Act, 1881. The aggrieved party can file a criminal as well as a civil case against the accused who must have had a legal obligation to repay the amount.

Best Legal remedy for Stalled Real Estate Project – A Comparison

More than 5 Lakh homebuyers are struck in the projects which are either stalled for multiple years or has been abandoned. The builder either don’t have money or intention to start construction on such products.

Insolvency Petition can’t be rejected if dispute is raised after Demand Notice

It was held that if the dispute is raised after the time period allowed in the demand notice, then this may not be a ground for rejecting the insolvency petition by operational creditor.

Whatsapp admissible as valid demand notice or pre-existing dispute under IBC

The Hon’ble NCLAT held the validity of the demand notice sent through whatsapp messenger app wherein the blue tick on the text implies the acceptance of the communication.

Cheque Bouncing Versus Insolvency– Whether proceedings under Section 138 and 141 of N.I. Act, 1881 can be initiated against Corporate Debtor during Moratorium period?

The institution or continuation of a proceeding of dishonour of cheque against company under the provisions of Negotiable Instruments Act, 1888 fall within the ambit of moratorium provision of the IBC.

‘Arbitration Clause’ – Its invocation and process

The process is not too tedious and is generally accepted by the court, thus, helping the parties to resolve disputes in a time bound manner.

Arbitration: Rising alternative dispute resolution mechanism

The resolution of a dispute via an arbitration mechanism saves time and cost. The proceedings are conducted as agreed by the parties or accordingly. However, if the parties are not satisfied with the award, then it can be challenged also.

Subvention Scheme: A Crisis for Homebuyers

A subvention scheme may end up to be a double-barreled if the developer fails to deliver the project on time, the burden of both rent and EMI will must be borne by the homebuyer.