Blogs

Under section 14 of the code, the moratorium order is passed. Accordingly till the time moratorium period exists no other action or suit or case or proceedings against the corporate debtor can take place.

In the absence of specific evidence relating to invoices actually forwarded by the appellant and there being a doubt, the insolvency petition cannot be entertained under section 9 of IBC.

If some other recovery proceedings are pending or the amount of claim is disputed before other tribunal or adjudicating body that won’t empower the adjudicating authority to reject the petition.

The Hon’ble NCLAT held the validity of the demand notice sent through whatsapp messenger app wherein the blue tick on the text implies the acceptance of the communication.

According to the sources, 591 complaints and 128 applications of buyers are pending with the regulatory authority. The authority shall issue notices with respect to pending complaints about hearing.

The Authority can grant extension in non-Force Majeure condition also by recording its reasons in writing and the same cannot be done for more than one year.

After MahaRERA, UPRERA also has adopted the services of a satellite to monitor the illegal construction and dubious projects being constructed in the state.

The Apex court of the country has denied to put stay on the NCDRC’s order allowing the homebuyers of JayPee Infratech Ltd. to move against the parent company Jai Prakash and Associates for compensation and possession of their respective flats.

The Uttar Pradesh Real Estate Regulatory Authority, Greater Noida Bench had rejected the registration applications of as many as 36 builders.

If the collection from allottees in a particular month is less than the installment due to be paid to the lender, the entire amount in the escrow account reportedly goes to lenders.

The former directors of the corporate debtor shall not merely provide the financial status of the corporate debtor but more than that so that they are aware of the terms to which they are bound.

The Hon’ble National Company Law Tribunal (NCLT) has admitted the Insolvency Petition against the EMAAR MGF Land Ltd. filed by one of the homebuyers i.e. Mr. Neeraj Gupta.

The application filed by the homebuyers under section 7 of IBC shall be maintainable. Therefore the homebuyers are advised to approach NCLT under IBC to recover their stuck money in a time-bound manner.

Steps like the appointment of new judges and revamping the whole infrastructure of few NCLT benches shall prove to improve the current status of IBC cases being filed in the nation.

An employee is an operational creditor and has the right to file an insolvency application against the corporate debtor or employer under section 10 of IBC.