whereas legislation like RERA provides for individual remedies against the Builder, the IBC Code gives collective control over the affairs and management of the Corporate Debtor to its financial creditors.
NCLT and RERA have different functioning and approach to tackle cases of homebuyers, often homebuyers are confused on which remedy to choose.
Main purpose of the Act lies in enhancing the Transparency between buyer and builder and creating a strong adjudicating system for the disputes arising in real estate sector.
The RERA Authority issued warrants of attachment in respect of Rs 91.41 lakh to four bank accounts of M/s Supertech for deduction of the amount.
Forum for People’s Collective Efforts, has approached the parliamentary standing committee on finance with its objection to a proposed amendment to the Insolvency and Bankruptcy Code.
Homebuyers who have been stuck due to CIRP and were unable to move before any court/ forum can now finally feel relieved and move before the developer company for any grievance.
Alternatives that an individual home buyer has in cases when the priority is refund and how they can proceed before NCLT or in other words exploit a long standing loophole.
The HRERA once more in a distinctive and groundbreaking feat attached the properties of the Developer to secure funds to ensure the completion of the Greenopolis Project.
Homebuyer filed appeal before P & H High court against order Haryana RERA Tribunal which held that RERA authority does’t power to grant refund under RERA.
The purpose and the objective for Enacting IBC is different as Compared to RERA Act, which explicitly focuses in resolving land sector disputes.
As indicated by authorities, out of the aggregate 240 cases transferred from Maha-RERA to the Pune court, the seat settled 40 cases from March 12 till now.
Maharashtra Government has decided to bring in tenanted or cessed buildings under RERA. The motive to include these building under RERA ambit is to provide protection to the consumers
Justice to be served wherever the issue relates to. MahaRERA is leading ahead in proper implementation of RERA regulations. The authority has given many landmark judgments and rulings provided justice to the aggrieved parties. Recently, MahaRERA sets an example proving itself by delivering a firm decision in favor of the Justice. Under this, it also … Continue reading “The completion date has been preponed by MahaRERA”
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has proved to be of great advantage for homebuyers.
A detailed article where you will know every thing about an arbitration clause and how it can impact the Builder-Buyer agreement.
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