Search Results for: execution proceedings

Execution of RERA order and attachment of assets of builders

The Authority has the power to hear the grievances of the allottees regarding execution of the orders and the Authority also has the powers to pass orders:

Lack of Execution under RERA- Another roadblock for Homebuyers

The time period of paying the money lapsed, few more months also went by chasing the builder to pay the money as per RERA order but all this begged no results and Homebuyers are forced to knock on the doors of RERA Authority again.

Execution of RERA Orders-Through RC-An Analysis

Since there are various difficulties in getting the order executed. At this point of time, the orders may be executed through RERA and also one can approach NCLT under IBC Law.

Recovery can be permitted against the assets of group companies: Bombay High Court

If the non-payment of a clear undisputed amount is being illegally and dishonestly avoided, whilst at the same time very large sums of money are being raised and spent by the same group or carrying on large real estate development projects.

Claims, not part of Resolution Plan, gets exhausted

No further legal action shall be permissible by creditor, whose claim has been rendered unsatisfied as per the resolution plan.

SECTION-8 OF RERA Vs. REVERSE INSOLVENCY

Many Homebuyers are confused between RERA and Reverse Insolvency, and it’s hard to decide which one is better. So here we are explaining the concept of RERA vs Reverse Insolvency.

All About- Moratorium and its relevance under IBC

The term Moratorium is nowhere defined in the Code, however, the term in basic parlance means, ”a stopping of activity for an agreed amount of time”. 

Homebuyers can now move RERA against Raheja Developers

Homebuyers who have been stuck due to CIRP and were unable to move before any court/ forum can now finally feel relieved and move before the developer company for any grievance.

Contempt of HRERA Order by Orris Infrastructure & Three C Shelters

Complaint was filed by Greenopolis Welfare association against the promoters, M/s Orris Infrastructure Private Limited and M/s Three C Shelters Pvt. Ltd. for not giving possession by the due date.

Homebuyers can file claim against HDIL

Corporate Insolvency Resolution Process initiated against Housing Development and Infrastructure Limited. Claims have been invited by the IRP from the creditors of the Company.

How to file a claim against three C Projects after Insolvency

Claim filing might seem like an easy process but the creditors have to understand that it is not and they have to submit their respective claim in a meticulous manner.

How to file claims as homebuyers against Raheja developers

NCLT Principal Bench vide its order dated 20.08. 2019 has ordered insolvency proceedings U/S 7 of the Insolvency and Bankruptcy Code, 2016 against Real Estate Developer, M/S Raheja Developers Limited. Every creditor of M/s Raheja Developers need to file their claims before the Insolvency Resolution Professional(IRP).

Recognition of Home Buyers as Financial Creditors under IBC

Home buyers are vital stakeholders in building projects. Many home buyers book their property in advance which helps builders raise funds for construction and development of the project.

The Conundrum of Reverse Corporate Insolvency Resolution Process

Reverse CIRP is still in an experimentation process and we should wait for more cases in which Reverse CIRP is applied and then observe its effect.

Need for a new legal framework

It is more crucial than ever to have an IBC-based legal framework to handle cross-border conflicts as the globalization of business and trade reaches new heights.