Kerala RERA has warned promoters, agents, firms from advertising real estate projects prior to registering the project and also issued show cause notices to few developers which had indulged in such practice.

The banks have started issuing an auction notice in respect of real estate projects where the builder has defaulted by not completing the construction of the project. Here we are sharing some remedies for the aggrieved homebuyers.

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.

A milestone judgement by the MahaRERA Authority to ensure the development of the real estate industry by protecting the homebuyer’s interest by balancing the rights of homebuyers as well as project developers.

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 RBI has decided to extend the moratorium period for another 3 months. This move of the RBI is laudable from the perspective of individual homebuyers.

RCom burdened with over Rs 46,000 crore of debt after the failure of its asset monetisation plans with Reliance Jio in March 2019 is undergoing insolvency proceedings with its assets up for sale.

As per the settled law there is no law or provision which states that either the Adjudicating or the Appellate Authority has the powers to question the resolution plan approved by the COC until and unless the same is barred by some irregularity. 

Withdrawal of money by a Company director from the accounts of the company during the CIRP, the same will attract criminal proceedings against the Directors

The LokSabha passed the IBC (Second Amendment) Bill 2019, which was first introduced by the Finance Minister Nirmala Sitharaman on 12 December 2019.

Whether the delay in delivering possession is due to the Corporate Debtor & in case the delay is not due to the Corporate Debtor, but force majeure, it cannot be alleged that the Corporate Debtor has defaulted in delivering the possession.

The matter is that in a situation where the Applicant is unable to prove the amount advanced as loan without proper documentations, such loan amount would not meet the requirements of a “Financial Debt”. 

The NeSL was the first Information Utility service registered under the BBI Regulations, 2017 it is one of the three pillars of the IBC system.