Search Results for: clause of the agreement

How to handle demand letter by Builder

A comprehensive article with analysis as how to handle the demand letters issued by the builders, from time to time to get the money from builders.

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.

Corporate Debtor cannot be blamed for delay in delivery of possession when delay occurs due to Force Majeure

Whether the delay in delivering possession is due to the Corporate Debtor & in case the delay is not due to the Corporate Debtor, but force majeure, it cannot be alleged that the Corporate Debtor has defaulted in delivering the possession.

Interest for Delayed Period of Possession to be calculated from date of default of Handing over Possession

The promoter is under obligation to pay interest on the amount paid by allottee from the date of payment till the possession is handed over to allottee.

Insolvency Process starts against Rohtas Projects

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

Insolvency proceedings initiated against Kasata hometech

This proactiveness has been further accelerated by the landmark judgment of the Hon’ble Supreme Court in the Pioneer case.

Filing of insolvency petition before NCLT by the Homebuyer- A Complete Analysis

In the year of 2016, a new set of laws as RERA Act have been implemented, specifically to protect the homebuyer and ensure the growth of real estate sector.

Insolvency Petition against Emaar MGF Land Ltd.

The Hon’ble National Company Law Tribunal (NCLT) has admitted the Insolvency Petition against the EMAAR MGF Land Ltd. filed by one of the homebuyers i.e. Mr. Neeraj Gupta.

Admissibility of Insolvency Petition filed by a homebuyer

The 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.

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.

Insolvency petition to NCLT by a Homebuyer

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.

Mobilox v Kirusa- Supreme Court interprets ‘existence of dispute’ as per IBC

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”.

Financial Creditor & Operational Creditor within the scope of Insolvency & Bankruptcy Code (Amendment) Bill, 2017

The IBC has introduced new and distinct concepts of ‘Financial Creditor’ and ‘Operational Creditor’ as opposed to the Companies Act, 2013 which merely introduced the term ‘creditor’, without any classification thereof.

Corporate Debt Restructuring

Based on the experience in other countries restructuring of corporate debt and need for a similar mechanism in India, a Corporate Debt Restructuring System was evolved, and detailed guidelines were issued.