3 Years since IBC- A road to Success
Since IBC enactments, it is necessary to consider the hits and misses of this momentous legislation so as to truly exploit the potential of the insolvency regime.
Search Results for: interests of home buyers
Haryana RERA attaches 4 bank accounts of Supertech
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.
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.
Properties of Promoters attached by HRERA to Ensure Completion of Stalled Projects
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.
Karnataka RERA Compliance for Builders
States were directed to establish a regulatory authority, whose work was to overlook the registration process and ensure compliance of the policies of the state.
Supertech agrees to handover the possession by December 2019 at 7th UPRERA Conciliation meet
The Uttar Pradesh RERA Authority keeping up with the spirit of the Real Estate Regulation and Development. That 7th Conciliation Forum of NCR was held by the Uttar Pradesh Real Estate Regulatory Authority recently wherein for the first time a settlement was achieved between the developer company Supertech and 14 Homebuyers.
Recovery of Money through Insolvency Laws
If any company is not making the payment as per agreed terms, then an insolvency petition may be filed u/s 7 or 9 based upon the facts, before NCLT to initiate the insolvency proceedings.
RERA Orders remain on Paper
The authorities of most of the states have passed numerous orders but none of them have been executed in reality. The orders remain on paper and developer/ promoters have not complied the order.
RERA in Jammu and Kashmir
The Jammu and Kashmir government has decided to set up the Real Estate Regulatory Authority in Jammu and Kashmir to promote regulated and planned growth of the real estate sector.
Occupation and Completion certificate to be withdrawn in case of incomplete projects: Haryana RERA
The RERA Act mandated registration with the newly formulated state RERA authorities but the rebate was given to projects which have already procured occupation and completion certificates.
“All projects to come under RERA eventually”- Minister Housing and Urban Affairs
Implementation of RERA is to secure justice for the homebuyers; that now all authorities are coming to full functionality in states all projects should be covered under the Act.
New IBC Ordinance effect on RERA
The purpose and the objective for Enacting IBC is different as Compared to RERA Act, which explicitly focuses in resolving land sector disputes.
2 Months on, RERA Benches still remains vacant
Since the Haryana government appointed two IAS officers as chairpersons of twin RERA benches, they are yet to accept charge because of pending “technicalities”, keeping the much-anticipated authorities from becoming completely functional.
RERA Authority lags in Hyderabad, scrubs construction of 10,000 flats
The State government in Hyderabad lags behind in setting up RERA Authority and State RERA website which came as a bottom dollar for homebuyers and builders.
SC refuses to grant more time to Jaiprakash Associates for depositing Rs125 crore.
New Delhi: The Supreme Court on Thursday refused to grant extension of time to Jaiprakash Associates Ltd (JAL) to deposit Rs125 crore. The amount is to be deposited by the end of this month. JAL was seeking time until 31 January to deposit Rs125 crore. As of now, the company’s liability is Rs1,525 crores. “Comply with … Continue reading “SC refuses to grant more time to Jaiprakash Associates for depositing Rs125 crore.”
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