Search Results for: Force Majeure

Limitation and Insolvency Laws (IBC)

The apex court held that the Code isn’t a machinery for recovery though its usage in several perspectives still be within the nature of a recovery system.

COMMITTEE OF CREDITORS (CoC) under IBC : FROM BEGINNING TO END

The Committee of Creditors (CoC) has complete wisdom and right to decide the fate of the company under CIRP. Lets understand all about Committee of Creditors under Insolvency Laws

Section 7 of the IBC is covered by Section 14 of the Limitation Act

Hon’ble Supreme Court has held that in an application under Section 7 of the Insolvency and Bankruptcy Code, the applicant can claim the benefit of Section 14 of the Limitation Act, in respect of proceedings under the SARFAESI Act.

MahaRERA orders CCI Projects to Pay Interest on Delayed Possession

The MahaRERA in three separate orders directed the CCI Projects Ltd to pay interest on delayed period of possession after the ongoing six-month moratorium due to covid-19 crisis is over.

IBC Ordinance – A Bargain for both Debtors and Creditors

The rationale of the Ordinance is certainly to ensure that Insolvency and Bankruptcy Code, 2016 lives up to its preamble that is – maximization of value of assets. The newly inserted Section 10A certainly brings about a balance of interest between creditors and debtors.

Completion Date of Real Estate Projects Extended- What does it mean for Homebuyers?

The homebuyers who were to get their homes anytime soon have to now at least wait for another period of 6 months or maybe 9 after the extension of real estate projects’ completion date.

Extension of RERA Registration cannot deprecate Homebuyers Right

Continuous demands of the project developers for extension of RERA registration have posed a major question of marginalizing the interest of the Homebuyers.

What if the agreement does not mention the possession date?

Not mentioning the date of giving possession to the buyer is a clear matter of fraud and misrepresentation and as per the Maharashtra Ownership of Flats Act of 1963.

Can homebuyer approach NCLT before RERA?

RERA has been specifically setup to regulate the real estate sector therefore one must approach RERA before approaching NCLT.