Recover the money against the supply made along with interest notified by the Reserve Bank of India (RBI) if any company make the payment after 45 day of acceptance of goods and service from any MSME’s vendor.
The Supreme Court clarified the code’s object while keeping legislative intent in mind. The court, through this judgement, has struck a balance between creditors’ rights and debtor companies’ remedies.
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.
The Appellants cannot be permitted to pursue alternative remedy of suit/arbitration proceeding even if pending as Resolution Plan is binding on all the stakeholders.
This article is all about the insolvency process which has been initiated which may include filing of claims, acceptance of claims, making of the committee of creditors and resolution plan
The hope of Ramkrishna Shard Parsodkar and his wife was shattered in to pieces when the builder failed to give possession after years of booking. That after being tormented at the hands of the builder, the couple was forced to approach the highest Consumer court of the county.
An application filed by the homebuyers under section 7 of IBC shall be maintainable. Therefore the homebuyers are advised to approach NCLT under IBC to recover their stuck money in a time-bound manner.
The Supreme Court of India in Mobilox Innovations Private Limited v Kirusa Software Private Limited has finally settled the widely debated question of what constitutes “existence of a dispute”.
In this article we will briefly cover the legal remedies one can resort to against their debtors in case there is default in paying the loan amount.
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