The SC has already issued notice and sought a reply from Jaiprakash Associates for the same, due to be heard on 17th October, 2020. The apex court took matters into its own hands and ordered for transfer of cases.
Author: Amar Vivek
Relief for Creditors – NCLAT paves way for extending the period of limitation
The limitation period cannot be extended, given the statutory provision under Section 19 of the Limitation Act as the Corporate Debtor has made part payment after expiration of the period of limitation.
The Smoke Ball Case and Legal Remedy against Misleading Advertisements
The Consumer Protection Act, 1986 provides for redress against unfair trade practices and a false or misleading advertisement becomes an unfair trade practice under the provisions of the law.
An Operational Creditor with an Arbitral Award can proceed as a Decree Holder
The National Company Law Tribunal has paved the way for operational creditors to revive their debt and proceed as decree holder.
Revised 1 crore threshold under IBC not to apply retrospectively
The interpretation adopted by the NCLT Chennai Bench over the prospective application of a new threshold of Rs 1 Crore brings a sigh of relief for all the creditors.
Relief for Homebuyers – SBI Capital comes to Rescue Amrapali
A major relief to the homebuyers in the stalled projects of the Amrapali group. The NBCC will play a major part in ensuring the in-time completion of the projects once the adequate financing is promised by SBI CAP and UCO.
IBC Ordinance – A Bargain for both Debtors and Creditors
The rationale of the Ordinance is certainly to ensure that Insolvency and Bankruptcy Code, 2016 lives up to its preamble that is – maximization of value of assets. The newly inserted Section 10A certainly brings about a balance of interest between creditors and debtors.
Relief for Homebuyers! Extension of Moratorium implies no action under SARFAESI
The RBI has decided to extend the moratorium period for another 3 months. This move of the RBI is laudable from the perspective of individual homebuyers.
Relief for Homebuyers- MahaRERA to list Urgent Matters for Hearing
The real estate industry, contributing 7 percent to the GDP and employing 15% of the labor force, has come to a complete standstill. Recently, MahaRERA has decided to hear urgent cases.
Covid-19 may end up making Real Estate a sound Investment Destination
The survey certainly provides an insight into the moods of the investors. However, for the government to ensure that the real-estate sector in India gets its fair share of investment amid this pandemic.