Search Results for: remedies under NCLT and RERA

How to execute RERA, NCDRC, and Consumer Court Order

The article speaks about the legal remedy or solution as to how an order passed by RERA or consumer court or others fixing any debts and liability can be executed or honored.

Can a Homebuyer approach RERA, NCLT and Consumer court simultaneously?

The home buyers have multiple forums to their rescue and it depends on them as to under what procures and act or code they wish to proceed.

Analysis of Judgment of the Supreme Court upholding the legality and constitutionality of Section 5(8)(f) of IBC, 2016

Judgment, which is titled Pioneer Urban Land and Infrastructure Ltd. and Anr. v. Union of India and Ors. upholds the constitutional validity of Section 5(8)(f) of the Insolvency & Bankruptcy Code, 2016 (hereinafter as the ‘Code’).

NCDRC vs RERA vs IBC, Which Is the best mechanism for consumers to get timely relief

Supreme Court allowed several buyers to join their suit property in order to increase valuation of their dispute and approach the NCDRC however buyers still find it difficult to get timely relief from the NCDRC.

Position of home buyers in the case of Insolvency

The allottees are left helpless when the developers stands either insolvent or incapable of delivering the possession even after passage of years beyond the date of delivery.

Allottees/Buyers must form group or association to counter the violations committed by the builders

All allottees approaching before these forums secure reliefs for them but the execution force is a bit low therefore they feel remediless even after winning a long legal battle. A better option which has come forward is where allottees come forward to form a group and then approach these forums.

Legal solutions when real estate project is stuck

Since the real estate projects are the turkey projects and take multiple years to get it completed, a normal delay can be accepted. Any delay of more than 1 year from promised date of possession is regarded as ‘extra-ordinary delay’.

Allotees are Financial Creditors : Supreme Court

Under Section 7 of the IBC, this amendment allowed the home buyer to initiate insolvency proceedings against defaulting Promoters. However, the Insolvency Amendment 2018 was challenged in the Supreme Court of India by approximately 200 realtors.

Right Legal Remedy for Aggrieved Homebuyers

We always talk about problems that we face. Let’s talk about the remedy this time. A good legal team will help you in getting justice on time with an effective remedy. Finding the right legal remedy for your dispute is all what you seek during this chaos.

Is IBC unfair to Operational Creditors?

Homebuyers are now considered financial creditors, whereas operational creditors, who are from the business world, may have a better understanding of the industry but still lack those rights.

Villagers take over Today Homes Canary Greens project in Gurugram

A group of villagers, from whom Today Homes got land, took physical possession of the project and put up a notice at the gate of the nearly fully booked but incomplete housing society.

Winding up Proceedings will not create any bar for initiation of the Insolvency Proceedings

These two judgements would be of great importance because they have paved a way for the transfer of post-notice winding up petitions pending before the different High Courts.

Best Legal remedy for Stalled Real Estate Project – A Comparison

More than 5 Lakh homebuyers are struck in the projects which are either stalled for multiple years or has been abandoned. The builder either don’t have money or intention to start construction on such products.

REVERSE INSOLVENCY – GOOD FOR ALL (HOMEBUYERS & BUILDER)

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

LokSabha Clears Heavily Contested IBC Amendment Bill 2020

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