The reason for stalling of a project can be one or many but the real objective for a homebuyer is to get the best possible remedy which protects the interest of all homebuyers of such a project.

Many Homebuyers are confused between RERA and Reverse Insolvency, and it’s hard to decide which one is better. So here we are explaining the concept of RERA vs Reverse Insolvency.

Petition before NCLT can be admitted even if official liquidator has been appointed by the High Court (Held By NCLT and Hon’ble Supreme Court)

Homebuyers who had taken a loan from the banks to pay for their flats in the Project, were being harassed by the banks who were forcing the homebuyers to pay their EMIs.

The UP-RERA has now requested the RBI to consider restructuring the loans taken by the builders for the completion of real estate projects.

It is advisable to the creditors to make a plea of initiating Group Insolvency while filing an application for initiation of CIRP against a corporate debtor.

Homebuyers while filing the joint petition before NCLT under IBC laws, should chose the legal firm very carefully.

Filing Claim under IBC- It becomes very important to understand why every creditor should file their claims?

an Insolvency Professional having all the aforementioned requirements may be chosen as An IRP for the corporate debtor. However it may have an advantage over other IRP if the person had already dealt in that specific industry being an RP/IRP.

A tug of war going on between the companies involved in the real estate sector and the homebuyers since the Insolvency and Bankruptcy Code (IBC) came in force in 2016

There are certain points which are to be taken into consideration whilst filing a petition for the homebuyers under the newly amended Section 7 of IBC.

Restructuring plan is a ray of hope for the borrowers. As the borrowers are already being stretched between the loan repayment and pandemic situation.

The NCLT Kolkata Bench imposed a mandatory condition on all the financial creditors to file information of their record of default with the National E-Governance Services Ltd. (NESL).

Reverse Insolvency Under IBC laws, seems best solution for struck real estate projects and Reverse Insolvency concept is kind good for both homebuyer and builder

The limitation period cannot be extended, given the statutory provision under Section 19 of the Limitation Act as the Corporate Debtor has made part payment after expiration of the period of limitation.