Search Results for: relief under the IBC

Cross-Border Mergers and IBC

The adoption of the Model Law will help in the ease of doing business and significantly increase the inflow of FDI into India by way of cross-border mergers and acquisitions.

Appeals and Limitations under Section 17 of the Limitations Act

Since a specific limitation period for filing such an appeal is clearly mentioned, Section 17 of the Limitation Act could not be applied here.

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.

An alien concept to the IBC regime is reverse CIRP

Despite the fact that such relief should not have existed, the NCLAT instead attempted an “experiment” to adopt the strange idea of Reverse CIRP, which has no precedent in the Code.

Can homebuyers approach the Supreme Court under Article 32 against developers?

The Hon’ble Supreme Court in its latest judgement dated February, 11 2021 declared that the proceedings under Article 32 of the Constitution by a purchaser, seeking relief in respect to a real estate project cannot be entertained.

Filing Appeal under RERA

In order to file appeals under RERA, the Real Estate Appellate Tribunal (“REAT”) was formed under section 43 of RERA, which examines the legality of RERA orders and determines whether to uphold or reverse the order. The REAT order can also be challenged before the Hon’ble High Court by filing an appeal.

COMMITTEE OF CREDITORS (CoC) under IBC : FROM BEGINNING TO END

The Committee of Creditors (CoC) has complete wisdom and right to decide the fate of the company under CIRP. Lets understand all about Committee of Creditors under Insolvency Laws

Section 7 of the IBC is covered by Section 14 of the Limitation Act

Hon’ble Supreme Court has held that in an application under Section 7 of the Insolvency and Bankruptcy Code, the applicant can claim the benefit of Section 14 of the Limitation Act, in respect of proceedings under the SARFAESI Act.

How NCLT through IBC can help homebuyers to get refund from defaulting Builders

Hon’ble SC clarified the position of the homebuyers similar to that of a “financial creditor” under the IBC, after this the homebuyers were at a par with banks and financial institutions.

IBC vs SARFAESI Act

The IBC is favoured over the SARFAESI Act, primarily because it offers a quick solution and is also effective in reviving the company and safeguarding the interests of all stakeholders.

Contradictions between The RERA and IBC

The IBC recognizes homebuyers under financial creditors to protect their rights even when a creditor, other than a homebuyer, invokes insolvency proceedings against the builder.

Group Insolvency- The Future of Successful Resolution under IBC

It is advisable to the creditors to make a plea of initiating Group Insolvency while filing an application for initiation of CIRP against a corporate debtor.

How IBC is Better than RERA for Homebuyers

IBC undoubtedly appears to be a better alternative in comparison to RERA. IBC offers a time bound resolution of the grievance of the homebuyers.

Relief for Homebuyers- NBCC to deliver Amrapali flats from August

NBCC took over the project in July on the SC orders after a petition by homebuyers following the Amrapali Group’s failure to deliver more than 30,000 flats in 15 projects. According to NBCC they will hand over at least 150-200 flats every month from august.