NCLT flooded with cases by Homebuyers: Over 1800 cases filed so far
The latest government data shows that how IBC is a huge change brought by the recent government in terms of a speedy redressal for the aggrieved homebuyers.
Search Results for: insolvency
Government Announces RS. 25,000 Crore Relief Fund for Homebuyers
The government has shown grave concern regarding pendency in the real estate sector and announced a government-funded stress fund for unfinished projects.
Aviva Life Insurance Company now a Corporate Debtor under IBC
Aviva Life is a joint venture between Dabur Invest Corp (Dabur group) and Aviva International Holding Ltd. This petition was filed against Aviva by Apeejay Trust for non-payment of rent and other relating dues totaling to over 27 lakh as claimed by Apeejay Trust in their petition.
Karnataka HC stays on NCLT order against Flipkart
Flipkart approached the Karnataka High Court for a stay on the CIRP process initiated by the NCLT. Further, the Karnataka High Court stayed the CIRP process.
Recovery of Money in a Speedy Manner
Money matters are a sensitive issue for everyone involved in the business as nobody would want to leave or lose their hard-earned money like that.
Remedies Available for Homebuyers in Delayed Projects
As a developing country, India had huge prospects for growth in the real estate sector, seeing this many people invested in the sector in good faith.
Executing order under Karnataka RERA
The manner of recovery of interest, penalty and compensation and the same is to be carried out in the manner provided in Karnataka Land Revenue Act 1967 and the rules made there under.
Filing claims after the lapse of due date
Real estate (regulation & development) act, 2016 (RERA) came as a sigh of relief for the homebuyers (Financial creditors), providing them with adequate relief unlike available conventional remedies under civil and consumer laws
Where to file property related issues?
If the builder is delaying in giving possession or not giving the property as per the agreements there are some effective legal remedies for the aggrieved homebuyers under the law.
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.
Quality check are must for RERA Registered projects
The quality certificate as under Form 2A and by this the entire process will become transparent and everyone will be assured of the quality of the projects.
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.
Invocation of guarantee during Moratorium
As per section 14 of the IBC 2016 and in the judgments it has been determined that during the moratorium period the invocation of guarantee against the ‘Company under Insolvency Proceedings/ CIRP.
Issued RC under RERA, can be recovered within 3 years due to Limitation Act
The RERA Act under its ambit provides for the execution in the form of issuance of RC or better known as Recovery Certificate u/s 40 of RERA Act.
NCLAT: CIRP can be initiated against a Company whose name has been Struck off from the Registrar of Companies
The NCLAT has affirmed that a request for the initiation of the Corporate Insolvency Resolution Process(CIRP) under sections 7 and 9.
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