Section 7 of the Arbitration and Conciliation Act, 1996 defines an arbitration agreement as “an agreement by the parties to submit to arbitration all or certain disputes which have arisen or which may arise between them in respect of a defined legal relationship, whether contractual or not.
In Banking Industry, the Borrower is not in a position to negotiate the Terms of the Loan Agreement, especially in cases of Home Loans, hence there is inequality of Bargaining power among Home Buyers.
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.
A milestone judgement by the MahaRERA Authority to ensure the development of the real estate industry by protecting the homebuyer’s interest by balancing the rights of homebuyers as well as project developers.
The Maha RERA authority has ordered builder cannot take the defense of force majeure clause for financial crisis and lack of approvals in any project.
A detailed article where you will know every thing about an arbitration clause and how it can impact the Builder-Buyer agreement.
A healthy relationship between the two can only be considered once agreement is being formed, duties are assigned, wages are fixed, and social security and benefits are rendered.
Mittal v Westbridge Ventures, the Singapore Court of Appeal reviewed several fundamental arbitration law issues, including the proper law of arbitration agreements and determining whether law determines whether a particular case is arbitrable.
Maharashtra Real Estate Appellate Tribunal (MahaRERA) observed in an order of Dinesh R. Humane V/s Piramal Estate Private Ltd., that could offer relief to many flat allottees that the right to reserve a flat includes the right to cancel the reservation.
The Real Estate (Regulation and Development) Act, 2016 (RERA) was enacted in India to regulate the real estate sector and protect the interests of homebuyers.
India, recognizing the importance of safeguarding individual privacy, has taken significant steps to enact laws and regulations aimed at regulating the processing and handling of personal data.
The real estate sector was unregulated for a long time. If customers experienced delays, they had little redress. Because court disputes may take a long time, most customers were at the discretion of the builders. A proper complaint process has emerged as a result of the implementation of RERA.
The Insolvency and Bankruptcy Code, of 2016 introduced a paradigm shift in India’s corporate legal landscape. One of its most significant features is the overriding effect it has on other laws.
“Dignity of labor has to be our national duty, it has to be a part of our nature.”
Arbitration is a dispute resolution process outside the traditional court system, gaining prominence in India due to its efficiency and flexibility. The Act governing the arbitration proceedings in India namely “The Arbitration and Conciliation Act, 1996”.
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