India should focus on the development of particular regulations and set up tribunals to control the gaming activities to change the notion of online gaming as gambling and to protectthe interest of its customers.
The Liquidator has a fiduciary responsibility with the Company and its creditors. The major goal of choosing a Liquidator is to resurrect a failing firm and operate professionally.
A common practice among the Builders/Developers to issue Possession Letter without obtaining the Occupation Certificate to pressurize the allottees to pay complete sale price without any chance of getting the possession or execution of sale deed.
When a business decides to wind up, it can choose between a voluntary winding up method and a compulsory winding up procedure. In the year 2020, the Ministry of Corporate Affairs will issue notices on the winding up of small businesses.
IFMS is an additional amount given by the buyers to the developer/builder till the time resident’s welfare association (RWA) is formed. The purpose of forming RWA is maintenance purpose, security purpose and projects for developments.
The enforcement proceedings for the foreign award (under S. 47-48) are the last and final stage where the debtor can resist the award from becoming binding/ enforceable for grounds listed under Section 48 of the Arbitration Act.
The Competent Authorities hold the power to revocate the registration of such promoters along with the publication of the name of such promoter in the defaulter’s list.
SARFAESI Act allows banks and financial institutions to recover their dues exceeding One Lakh Rupees by proceeding against secured assets of the borrower/guarantor without the intervention of the court/tribunals.
The Authority has the power to hear the grievances of the allottees regarding execution of the orders and the Authority also has the powers to pass orders:
The Complainant allottees are entitled to get the Recovery Certificate executed by the District Collector as arrears of land revenue under the Revenue Code and to receive the said amount after the execution and recovery.
The Karnataka High Court on 16.11.2021, allowed a deferment of all loan repayments, and directed the bank not to recovery the home loan and refrain from take any coercive action.
There are a number of distinguishing features that often persuade parties to choose arbitration as opposed to court litigation for the resolution of their dispute.
The Supreme Court overturn decision of the a 5-Judge Bench order of the NCLAT that balance sheet entries do not amount to the acknowledgment of a debt and thus do not extend limitation under Section 18.
The RERA Act is the best reform happened for the homebuyers. If in any situation a dispute arises, the offences, procedure and penalty is being clearly stated.
Keeping in mind all the challenges faced by the women during their Maternity period a bill “The Maternity Benefit Act” was enacted in 1961 followed by amendments in 2016 and 2017. If you are a women employee who is planning to take maternity leave or are already on maternity leave this article will help you to know about the amended regulations.