Blogs

Due to the outbreak of Second wave of Coronavirus, Assocham has requested the finance ministry to re-impose a moratorium on bringing debt-ridden firms to NCLT under the Insolvency and Bankruptcy Code (IBC) until December 2021.

This isn’t the first time the NCLAT has ruled that, IBC rules take precedence over other laws, such as the attachment of corporate debtor’s assets under the PMLA.

NCLT and RERA have different functioning and approach to tackle cases of homebuyers, often homebuyers are confused on which remedy to choose.

Brokers and agents will have to ensure that, they are properly registered with the regulator under RERA.

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

Everyone wishes to live peacefully in a well maintained house of their choice and that is why they invest their life time hard earned money in big projects developed by builders. But does it really fulfill their dreams?

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

RERA has a swift dispute resolution system which shows aggrieved a ray of hope in getting justice on time. What’s next once you get the RERA order in your favour?

Once again the pandemic is hitting us hard in its second wave leaving no other option but to once again choose the path of virtual courts. So the decision of the RERA Authorities to go virtual is just to settle the disputes without any further delay and not to let the pandemic hamper our justice system.

Balance sheets can be considered as acknowledgment of debt, the judgment was delivered by a three-Judge Bench of Justice.

PPIRP (Pre-packaged Insolvency Resolution Process) is an alternate for normal Insolvency Process. It has been announced for MSME Sector.

Maharastra government has proposed amendment in MahaRERA act to crack down on builders who sell a single flat to multiple buyers in a significant step.

Resolution applicants enter the CIRP and prepare “Resolution Plans,” which are effectively instruments for taking over a corporate debtor, paying its creditors’ debts, and completing its recovery and restructuring.

The IBC’s applicability to NBFCs is a welcome legislative effort, and the new rules have extended the RBI’s role in performing an NBFC’s CIRP.

UP-RERA has expressed contentions to issue a show-cause notice to Supertech Realtors under Section 5 (1) of the RERA Act, 2016 to describe why the application for registration should not be refused.