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Blogs - Shriya.mehta, Author at Centrik

CentrikArticles by: Shriya.mehta

Author: Shriya.mehta

Corporate Debtor cannot be blamed for delay in delivery of possession when delay occurs due to Force Majeure

Posted by Shriya.mehtaPosted on March 10, 2020March 12, 20200 CommentsCategories Corporate Litigation-All In Way, Debt Recovery Management, Insolvency & Bankruptcy Code 2016Tags Corporate Debtor cannot be blamed for delay in delivery of possession, Corporate Debtor defaulted in delivering the possession, corporate debtor under IBC, Corporate Debtor under NCLT, delay in delivering possession is due to the Corporate Debtor, Developer failed to deliver the possession, Financial Creditor terminated the Agreement, proposed time for handing over the possession, Recovery of Money, refund of the total amount, Who is Corporate Debtor

Whether the delay in delivering possession is due to the Corporate Debtor & in case the delay is not due to the Corporate Debtor, but force majeure, it cannot be alleged that the Corporate Debtor has defaulted in delivering the possession.

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Interest for Delayed Period of Possession to be calculated from date of default of Handing over Possession

Posted by Shriya.mehtaPosted on March 7, 2020April 17, 20233 Comments on Interest for Delayed Period of Possession to be calculated from date of default of Handing over PossessionCategories RERA ConsultingTags Allottee can claim recovery of interest of delayed period of possession, complaint against promotor before MahaRERA, delay in handing over the possession, Delay in Possession, possession is handed over to allottee, promoter failed to hand over possession of flat, promotor agreed to hand over possession of flat, recovery of interest of delayed period of possession, registered agreement for sale

The promoter is under obligation to pay interest on the amount paid by allottee from the date of payment till the possession is handed over to allottee.

3 Comments on Interest for Delayed Period of Possession to be calculated from date of default of Handing over Possession
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No bar to Initiate Insolvency Proceedings pendency the action under SARFAESI Act or RDBFI Act

Posted by Shriya.mehtaPosted on March 6, 20200 CommentsCategories Debt Recovery Management, Insolvency & Bankruptcy Code 2016Tags corporate debtor under IBC, Initiate Insolvency Proceedings pendency, Insolvency Proceedings pendency the action under SARFAESI Act, proceeding under Recovery of Debts, provisions of Moratorium, Recovery of Debts, Recovery proceedings, resolution process of corporate debtor

The pendency of actions under the SARFAESI Act or actions under the RDDBFI Act, 1993 does not create an obstruction for applying Section 7 of Insolvency and Bankruptcy Code 2016, especially given Section 238 of IBC.

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MREAT allowed delay of 14 months and 22 days to allottees

Posted by Shriya.mehtaPosted on March 5, 20200 CommentsCategories RERA ConsultingTags complaint before MahaRERA, delay in filing an appeal, execute and register agreements for sale, filing of an application for non-compliance of the order before MahaRERA, MREAT allowed delay, no date of handing over possession, order passed by MahaRERA

In the matter of Mr. Anil Mnagaldas Vade & ors. vs. Siddhitech Developers, the delay in filing an appeal u/s 44 of RERA Act, MREAT allowed delay of 14 months & 22 days to homebuyers.

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Claim amount towards interest on loan alone cannot be termed as Operational Debt

Posted by Shriya.mehtaPosted on February 29, 20200 CommentsCategories Insolvency & Bankruptcy Code 2016Tags Best Insolvency Professionals in Mumbai, Claim amount of interest on loan, File an appeal to NCLT, initiate CIRP against the corporate debtor, Insolvency Professionals in Mumbai, interest on delayed payment, NCLT Bench Mumbai, NCLT Mumbai, operation debtor under IBC, Operational debt under IBC in India, rejected petition under NCLT Bench

A pre-existing dispute towards interest on the delayed payments before the issuance of the demand notice and that the alleged claim amount towards interest on loan alone, cannot be termed as an “Operational Debt”.

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MREAT directed developers to refund the Forfeited Amount

Posted by Shriya.mehtaPosted on February 28, 2020February 29, 20200 CommentsCategories RERA ConsultingTags Best RERA lawyers in Mumbai, directed developers to refund amount, file a complaint under MahaRERA for recovery, legal notice to the developers for recover money, Maharashtra RERA, order passed by MahaRERA, order to refund the amount, RERA in Maharashtra

MREAT directed the developers to refund the forfeited amount of Rs. 8.14 lakhs to Jagdish Patel and Pravin Patel within two months.

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