Forum for People’s Collective Efforts, has approached the parliamentary standing committee on finance with its objection to a proposed amendment to the Insolvency and Bankruptcy Code.
Kerala RERA was formally launched on January 1, 2020. The Authority has also fixed a three-month period for developers to register all ongoing and upcoming projects.
Bihar RERA authority has taken Suo-Motu cognizance against five promoters and builders with the highest number of complaints.
Open parking spaces fall within the definition of common areas in the RERA Act, and hence developers cannot charge homebuyers for open parking spaces.
The government is presently mooting schemes to unburden NBFCs of stressed financial assets such as by creating a stressed asset fund to buy out the stressed financial assets.
It was observed that once the complainant has given the aforesaid consent he cannot withdraw it as respondents have acted upon the same.
Homebuyers who have been stuck due to CIRP and were unable to move before any court/ forum can now finally feel relieved and move before the developer company for any grievance.
Due to the unavailability of funds from banks and developers getting bankrupt, small developers will get into joint ventures, mergers, and acquisitions for their survival within the market.
Complaint was filed by Greenopolis Welfare association against the promoters, M/s Orris Infrastructure Private Limited and M/s Three C Shelters Pvt. Ltd. for not giving possession by the due date.
MahaRERA directs the respondent to refund the amount paid by the complainants to the respondent along with interest under Section-18 of the RERA.