Blogs

Flipkart approached the Karnataka High Court for a stay on the CIRP process initiated by the NCLT. Further,  the Karnataka High Court stayed the CIRP process.

To, start with the most common problem that as homebuyers you might have is delayed possession or no construction in the project.

Money matters are a sensitive issue for everyone involved in the business as nobody would want to leave or lose their hard-earned money like that.

As compared to RERA in other states Karnataka RERA has been disappointing since the day it got enacted. Builders and homebuyers both remained unhappy for many reasons.

As a developing country, India had huge prospects for growth in the real estate sector, seeing this many people invested in the sector in good faith.

1st of kind order from Hon’ble RERA, which is unique and real justice in real estate history. In the said case, the uncompleted project was handed over to the association to construct it through the pooling of money

The manner of recovery of interest, penalty and compensation and the same is to be carried out in the manner provided in Karnataka Land Revenue Act 1967 and the rules made there under.

This order is first of its kind in the Country and this shall set an example for all other stalled projects wherein builders are in jail for years and there is no hope of construction in near future. 

MahaRERA ordered the web portals companies to get themselves registered as Real Estate agents under RERA within 2 months of the order.

States were directed to establish a regulatory authority, whose work was to overlook the registration process and ensure compliance of the policies of the state.

Real estate (regulation & development) act, 2016 (RERA) came as a sigh of relief for the homebuyers (Financial creditors), providing them with adequate relief unlike available conventional remedies under civil and consumer laws

Don’t keep sleeping on your rights as homebuyers because the newly implemented RERA is here to empower you and before time runs out to go grab your rights.

If the project isn’t RERA Registered you can approach the concerned RERA Authority for initiating a complaint against the concerned developer for non-registration.

If the builder is delaying in giving possession or not giving the property as per the agreements there are some effective legal remedies for the aggrieved homebuyers under the law.

This article is all about the insolvency process which has been initiated which may include filing of claims, acceptance of claims, making of the committee of creditors and resolution plan