IBC against NBFC
The IBC’s applicability to NBFCs is a welcome legislative effort, and the new rules have extended the RBI’s role in performing an NBFC’s CIRP.
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Homebuyers Deplore Supreme Court Order on Jaypee Infratech
“Supreme Court is playing with the emotion of homebuyers” an unhappy homebuyer of Jaypee Wishtown said after the Superme Courts’s order on Jaypee Infratech.
Fake Commercial Transactions will not constitute ‘Financial Debt’ under IBC: SC
A perfect decision by the SC where the parties perform activities to avoid any commercial transactions which are collusive in nature or where financial creditor escape the bar under Section 21(2) first proviso of the IBC.
Why Filing of Claim is Necessary under IBC
Filing Claim under IBC- It becomes very important to understand why every creditor should file their claims?
How to choose your Interim Resolution Professional (IRP) for Insolvency Process
an Insolvency Professional having all the aforementioned requirements may be chosen as An IRP for the corporate debtor. However it may have an advantage over other IRP if the person had already dealt in that specific industry being an RP/IRP.
Supreme Court takes matter into its own hands in Jaypee Infratech Case
The SC has already issued notice and sought a reply from Jaiprakash Associates for the same, due to be heard on 17th October, 2020. The apex court took matters into its own hands and ordered for transfer of cases.
How IBC can help Homebuyers to revive stuck projects
There has been no or little knowledge about the functioning of IBC but let us assure you that we have done many matters under IBC and have ended up getting justice for all our home-buyers clients. It is quick, efficient and result oriented.
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.
Employee Benefits Constitute Operational Debt
A claim was made in respect of the non-payment of pending salary and other settlement benefits such as leave encashment, Leave Travel Allowance, and bonus.
When Resolution Plan can be challenged by the aggrieved Person
The resolution plan can be challenged by an aggrieved person as per the grounds mentioned in Sub-Section (3) of Section 61 of the Code.
Revival of Construction Project from Insolvency
This article aims to caution and summarize the Corporate Insolvency Resolution Process with respect to buyers seeking revival and completion of Project.
High Court to intervene against orders of the NCLT
A judgement has been held by Hon’ble Supreme Court that the powers of the NCLT under the IBC do not extend to adjudicating disputes relating to quasi- judicial or statutory authorities.
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.
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.
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
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